{"id":114364,"date":"2024-03-27T21:40:03","date_gmt":"2024-03-27T20:40:03","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/abcon-reveals-when-naira-will-appreciate-to-n1000-per-usd"},"modified":"2024-03-28T00:10:19","modified_gmt":"2024-03-27T23:10:19","slug":"abcon-reveals-when-naira-will-appreciate-to-n1000-per-usd","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/abcon-reveals-when-naira-will-appreciate-to-n1000-per-usd","title":{"rendered":"ABCON reveals when Naira will appreciate to N1,000 per USD"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>The Association of Bureau de Change Operators in Nigeria, ABCON, has forecasted when the Naira will appreciate to N1,000 per US dollar.<\/p>\n

The President of ABCON, Aminu Gwadabe, in an exclusive interview with DAILY POST on Wednesday, said Naira would appreciate to N1,000 per USD in December 2024.<\/p>\n

According to him, the recent intervention of the Central Bank of Nigeria, CBN, by supplying forex to BDCs has started yielding results and impacting the FX market positively.<\/p>\n

He, however, debunked claims making the round that Naira exchanged at N1,000 per USD in Abuja on Wednesday.<\/p>\n

According to him, at the moment, Naira is exchanged at the parallel market across the country between N1,300 and N1,320 per USD, not N1,000.<\/p>\n

He noted that the realistic exchange of the Naira against the Dollar could be N1,200 per USD.<\/p>\n

\u201cThe impact of the Central Bank of Nigeria\u2019s recent intervention in BDC is being felt in the foreign exchange market. The supply of Dollars to BDCs is yielding results.<\/p>\n

\u201cMeanwhile, the claim that the Naira is being exchanged at N1,000 per USD is fake news. Across the country, in Onitsha, Abuja, and Lagos, the FX rate at the black market is between N1,300 and N13,20 per USD.<\/p>\n

\u201cIn my opinion, the realistic rate is N1,200 per USD. Meanwhile, if all momentum, that is, the continued rise in foreign reserves, increased investors\u2019 confidence, and more revenue from crude oil and non-oil exports and others are maintained, by December, the Naira will be at N1000 per USD,\u201d he told DAILY POST.<\/p>\n

On Monday, CBN sold $10,000 to each BDC at N1,251 per US dollar, representing a significant FX intervention move.<\/p>\n

Goldman Sachs analysts forecasted in March 2024 that the Naira will appreciate to N1,200 per US dollar in 12 months.<\/p>\n

For More News And Analysis About Nigeria<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. The Association of Bureau de Change Operators in Nigeria, ABCON, has forecasted when the Naira will appreciate to N1,000 per US dollar. The President of ABCON, Aminu Gwadabe, in an exclusive interview with DAILY POST on Wednesday, said Naira would appreciate to N1,000 per USD in December 2024. According to him, the […]<\/p>\n","protected":false},"author":84,"featured_media":114362,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[11527,1570,2140,1623,254],"class_list":["post-114364","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-abcon","tag-africa-press","tag-africa-press-nigeria-2","tag-naira","tag-nigeria"],"yoast_head":"\nABCON reveals when Naira will appreciate to N1,000 per USD - Nigeria<\/title>\n<meta name=\"description\" content=\"The Association of Bureau de Change Operators in Nigeria, ABCON, has forecasted when the Naira will appreciate to N1,000 ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/abcon-reveals-when-naira-will-appreciate-to-n1000-per-usd\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ABCON reveals when Naira will appreciate to N1,000 per USD\" \/>\n<meta property=\"og:description\" content=\"The Association of Bureau de Change Operators in Nigeria, ABCON, has forecasted when the Naira will appreciate to N1,000 ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/abcon-reveals-when-naira-will-appreciate-to-n1000-per-usd\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-27T20:40:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-27T23:10:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/03\/sm_1711564454.939881.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1525\" \/>\n\t<meta property=\"og:image:height\" content=\"1001\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/abcon-reveals-when-naira-will-appreciate-to-n1000-per-usd#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/abcon-reveals-when-naira-will-appreciate-to-n1000-per-usd\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"ABCON reveals when Naira will appreciate to N1,000 per USD\",\"datePublished\":\"2024-03-27T20:40:03+00:00\",\"dateModified\":\"2024-03-27T23:10:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/abcon-reveals-when-naira-will-appreciate-to-n1000-per-usd\"},\"wordCount\":312,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/abcon-reveals-when-naira-will-appreciate-to-n1000-per-usd#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/03\/sm_1711564454.939881.jpg\",\"keywords\":[\"ABCON\",\"Africa Press\",\"Africa Press-Nigeria\",\"naira\",\"Nigeria\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/abcon-reveals-when-naira-will-appreciate-to-n1000-per-usd#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/abcon-reveals-when-naira-will-appreciate-to-n1000-per-usd\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/abcon-reveals-when-naira-will-appreciate-to-n1000-per-usd\",\"name\":\"ABCON reveals when Naira will appreciate to N1,000 per USD - 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