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CBN Confirms N410.25/$ As New Official Exchange Rate - Business (4) - Nairaland

Nairaland Forum / Nairaland / General / Business / CBN Confirms N410.25/$ As New Official Exchange Rate (27446 Views)

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Re: CBN Confirms N410.25/$ As New Official Exchange Rate by twosquare(m): 11:50am On May 26, 2021
SenecaTheYonger:


if your money comes in dollar adn the bank use official rate, you won't gain anything. The only time you gain is if you're selling to dolalr to blackmarket buyers. People that are getting money from Transferwise and hte rest at official rate are really losing money becasue the price of things are in accordiance with blackmarket standard.

This country is an illuison
just a note of correction. Wise don't exchange at official rate but mid-market rate which is still higher than the official rate. Monegram and Western Union operates at the official rate. However, ATM rate is better than both the mid-market rate and official rate. But the black market is the king.
About the black market, I think most people are worried about safety.
Re: CBN Confirms N410.25/$ As New Official Exchange Rate by HimName: 11:54am On May 26, 2021
arsetalks:
Please stop this we warned them nonsense. Who would we have voted? GEJ was a disaster and only reason you and your kind talk about him is 1. Ethnic bigotry 2. The fact that Buhari has been a disgrace.

GEJ was rightly voted out but you don't see it because of sentiments and nothing more.

God bless you!

Nigerians are forgetful people.

Futuristically, this very same Buhari era would be termed a better one compare to the current.

Nor b the same Nigerians wey I know? grin

Just dey watch.

Hold past and present public office holders accountable for their actions and inactions... Na lie

It's all about the wail and nail biting.
Re: CBN Confirms N410.25/$ As New Official Exchange Rate by SenecaTheYonger: 11:59am On May 26, 2021
twosquare:
just a note of correction. Wise don't exchange at official rate but mid-market rate which is still higher than the official rate. Monegram and Western Union operates at the official rate. However, ATM rate is better than both the mid-market rate and official rate. But the black market is the king.


Yeah, black market is king, but crypto black market is like some supreme emperor shit. I check Wise yesterday and saw exchange rate at $1 to #388. I don't know if I'm seeing double, but as someone that works for foreign companies online, I get paid directly to my bank and it comes in all manner of low exchange rate. I'm definitely the perks of earning in dollar.
Re: CBN Confirms N410.25/$ As New Official Exchange Rate by Yus2020: 12:01pm On May 26, 2021
APC CBN Apc EFCC nonsense everywhere
Re: CBN Confirms N410.25/$ As New Official Exchange Rate by Donvic4u(m): 12:04pm On May 26, 2021
vcente:
bro, Canada's economy is down by at least 11% since the covid 19, and its only recovering a little bit, now that oil prices are poised to guy higher. I should know, its a part of my job

All economies declined during corvid, but as at now, the UK and Canada are among the best performing economies
Re: CBN Confirms N410.25/$ As New Official Exchange Rate by Weregonnalose: 12:18pm On May 26, 2021
Abacha is really missed in your country.
One man took it from 150 to a dollar to 410 to a dollar.

Nigeria is gone
Re: CBN Confirms N410.25/$ As New Official Exchange Rate by pquaver(m): 12:20pm On May 26, 2021
dynicks:
GENERALLY SPEAKING, MOST GROUP OF PERSONS FROM A PARTICULAR ZONE KICKED AGAINST, YELLED AGAINST, PREACHED AGAINST, FOUGHT AGAINST VOTING THIS GOVERNMENT INTO POWER BUT THEY WERE RATHER SEEN AS LOSERS, THIRD CLASS AND THEIR WORDS TAKEN AS INCONSEQUENTIAL....

Today, everyone is feeling the heat!!...

Stop making it look like you know what you are saying. Those same people voted ikpeazu, T. A orji, same people voted ohakim into power worship ibori, late Alameisigha, GEJ and see like of okowa, wike and pdp as performers.. Save us your hypocrisy abeg
Re: CBN Confirms N410.25/$ As New Official Exchange Rate by Brushstrokes20: 12:36pm On May 26, 2021
Buhari is all shades of DOOM AND DISASTER!
Re: CBN Confirms N410.25/$ As New Official Exchange Rate by iLegendd(m): 12:53pm On May 26, 2021
shegzhkn:


Lol, you freelance ??

No, that's slavery.

"So, what do you do then?"You inquisitively asked.

My reply: nevermind.
Re: CBN Confirms N410.25/$ As New Official Exchange Rate by Pim1: 12:54pm On May 26, 2021
Learn crypto or FX trading and make dollar daily instead of this worthless Naira.
Re: CBN Confirms N410.25/$ As New Official Exchange Rate by twosquare(m): 12:55pm On May 26, 2021
Wise is yet to update their exchange rate to reflect the new one. Also, they have stopped Naira exchange, so what's the point really. That CBN policy is injurious.

Also, I saw some weeks ago that USDC, I think, is around N1500 per coin. This shows that the true value of the naira to dollar is over N1000, and not the fake exchange rate we are seeing. USDC is the same as us dollar.
SenecaTheYonger:



Yeah, black market is king, but crypto black market is like some supreme emperor shit. I check Wise yesterday and saw exchange rate at $1 to #388. I don't know if I'm seeing double, but as someone that works for foreign companies online, I get paid directly to my bank and it comes in all manner of low exchange rate. I'm definitely the perks of earning in dollar.
Re: CBN Confirms N410.25/$ As New Official Exchange Rate by shegzhkn: 1:00pm On May 26, 2021
iLegendd:


No, that's slavery.

"So, what do you do then?"You inquisitively asked.

My reply: nevermind.


Funny dude.

Keep telling yourself that.
Re: CBN Confirms N410.25/$ As New Official Exchange Rate by africandollar: 1:13pm On May 26, 2021
Why?! Naija currency exchange market and stock market na im I see wey laws of demand and supply doesn't operate freely...Why?! angry
Re: CBN Confirms N410.25/$ As New Official Exchange Rate by iLegendd(m): 1:21pm On May 26, 2021
shegzhkn:


Funny dude.

Keep telling yourself that.

I don't mean to talk down on freelancers. It's good and it's worth it. Better than fraud and 9-5 job.

All I'm trying to say is: any work you do that doesn't allow you make money from it while you sleep for 1 full year is slavery.

What I do is: I focus on businesses that'll fetch money while asleep, awake, or dead.

Three of them are

1. Recorded music (via streaming platforms — Bob Marley still makes billions of Naira every year)
2. Movies (you pay the creator to stream or watch it every year)
3. Games/apps/software (paid versions)
4. Books/audio books (paid versions)
5. YouTube/Video courses (paid versions)
6. Monthly subscription packages
7. Cry.pto investment (not day trading)
8. And the list is endless

These are the kinds of things that'll take you out of financial slavery.

As I said, freelancing is still better than most businesses, so I'm not discouraging you, but I can never do it.
Re: CBN Confirms N410.25/$ As New Official Exchange Rate by MummyD2020(f): 1:24pm On May 26, 2021
prof2007:


SOURCE: https://punchng.com/cbn-confirms-n410-25-as-new-official-exchange-rate/

On papers? How about enforcement? Mtheewwwww
Re: CBN Confirms N410.25/$ As New Official Exchange Rate by Nobody: 1:29pm On May 26, 2021
prof2007:


SOURCE: https://punchng.com/cbn-confirms-n410-25-as-new-official-exchange-rate/

A big congratulations, I was actually expecting to see like N480/$ All the same Congrats Zombies......
Re: CBN Confirms N410.25/$ As New Official Exchange Rate by gonkin(m): 1:31pm On May 26, 2021
Na only yahoo boys dey enjoy am
Re: CBN Confirms N410.25/$ As New Official Exchange Rate by MIKOLOWISKA: 1:34pm On May 26, 2021
dynicks:
GENERALLY SPEAKING, MOST GROUP OF PERSONS FROM A PARTICULAR ZONE KICKED AGAINST, YELLED AGAINST, PREACHED AGAINST, FOUGHT AGAINST VOTING THIS GOVERNMENT INTO POWER BUT THEY WERE RATHER SEEN AS LOSERS, THIRD CLASS AND THEIR WORDS TAKEN AS INCONSEQUENTIAL....

Today, everyone is feeling the heat!!...
na Dia road bad pass
What have their governors senators, reps, ministers done
Abeg mowu hia word
Re: CBN Confirms N410.25/$ As New Official Exchange Rate by samwillyco1(m): 1:34pm On May 26, 2021
NIGERIA is doomed, APC Government is a DISASTER.
Worst administration in the history of the whole world

3 Likes

Re: CBN Confirms N410.25/$ As New Official Exchange Rate by Cokahot: 1:36pm On May 26, 2021
Car price must drop
Re: CBN Confirms N410.25/$ As New Official Exchange Rate by shegzhkn: 1:38pm On May 26, 2021
iLegendd:


I don't mean to talk down on freelancers. It's good and it's worth it. Better than fraud and 9-5 job.

All I'm trying to say is: any work you do that doesn't allow you make money from it while you sleep for 1 full year is slavery.

What I do is: I focus on businesses that'll fetch money while asleep, awake, or dead.

Three of them are

1. Recorded music (via streaming platforms — Bob Marley still makes billions of Naira every year)
2. Movies (you pay the creator to stream or watch it every year)
3. Games/apps/software (paid versions)
4. Books/audio books (paid versions)
5. YouTube/Video courses (paid versions)
6. Monthly subscription packages
7. Cry.pto investment (not day trading)
8. And the list is endless

These are the kinds of things that'll take you out of financial slavery.

As I said, freelancing is still better than most businesses, so I'm not discouraging you, but I can never do it.





Yeah I agree with your submission.

1 Like

Re: CBN Confirms N410.25/$ As New Official Exchange Rate by MIKOLOWISKA: 1:41pm On May 26, 2021
Ijaya123:
Godwin Emiefele, the worst CBN Governor in the history of Nigeria. Very confused and incompetent fellow.

The useless man should have been fired long time ago! Anyway, his Oga is as clueless as him too.

How did we even get here?
tribalism
Re: CBN Confirms N410.25/$ As New Official Exchange Rate by DrAkpa(m): 2:04pm On May 26, 2021
[s]NLPoliceWoman:

Seun Myd44 Juswise Doinique.
Cc Rule 5[/s]

Keep qaiet
Re: CBN Confirms N410.25/$ As New Official Exchange Rate by clems88(m): 2:12pm On May 26, 2021
Malam bilhari has finish this country. Anyway e no concern me. If them like let it reach 1k na me gain
Re: CBN Confirms N410.25/$ As New Official Exchange Rate by philo04(m): 2:29pm On May 26, 2021
EmmanuelScott1:

grin grin grin witches and wizard
yes ke
Re: CBN Confirms N410.25/$ As New Official Exchange Rate by Ijaya123: 2:59pm On May 26, 2021
MIKOLOWISKA:
tribalism

Point to the tribe mentioned here.

1 Like

Re: CBN Confirms N410.25/$ As New Official Exchange Rate by optimusprime2(m): 3:32pm On May 26, 2021
zolajpower:

If not more than now my brother .

2020 Feb on my way to Ghana I change #5000 to cfa5100 . Just a different of 100 grin
Na waah o... like seriously.
They have finally wrecked Nigeria shocked

Re: CBN Confirms N410.25/$ As New Official Exchange Rate by zolajpower: 3:37pm On May 26, 2021
optimusprime2:

Na waah o... like seriously.
They have finally wrecked Nigeria shocked
Bros na poor person who get people abroad dey enjoy this country . Sooner or later naira no go fit catch CFA again let alone cedis talk more the dollar grin
Re: CBN Confirms N410.25/$ As New Official Exchange Rate by akanjikokoro: 3:40pm On May 26, 2021
God take control of this country o.
Re: CBN Confirms N410.25/$ As New Official Exchange Rate by Sleekfingers: 4:55pm On May 26, 2021
prof2007:


SOURCE: https://punchng.com/cbn-confirms-n410-25-as-new-official-exchange-rate/



black market go don reach like 500naira.......na to go change my dollars asap.....

Useless country........very soon naira will turn to tissue paper......just like venezuela, their money is equivalent to tissue paper......
Re: CBN Confirms N410.25/$ As New Official Exchange Rate by Sleekfingers: 4:58pm On May 26, 2021
Valkrie:
But they sell to dangote at a cheaper rate and far below this rate...!!!




where is your evidence?

You know say court don tell lie muhammed to pay 20million naira for defamation of character...........you want make dangote sue you?

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