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Nairaland Forum / Nairaland / General / Business / Are Bank Managers And BDC Truly Behind The Naira Value Crash? (126 Views)
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Are Bank Managers And BDC Truly Behind The Naira Value Crash? by Ningishzida: 9:18pm On Feb 15 |
CBN sells dollars for first time in 5 months, Naira crashes further afterwards A recent case study: CBN sold almost $90 million in the spot FX market on Tuesday to Banks, its first sale of dollars in the market since September 2023. As at the time of this sale on Tuesday, 1 USDT coin was being exchanged on Binance p2p for around 1,520 - 1,540 Naira and Someone made the following prediction. CBN sells to Banks @ 1,490 Naira? And the Banks will sell to the BDC operators @ 1,690 Naira; BDC will sell to the general public @ 1,890 Naira, and the cycle continues. And here we are just two days later with NAIRA now exchanging on Binance p2p for 1,610 Naira to 1 dollar. Are bank managers truly conniving with BDCs to devalue the Naira for maximum profit? 1 Like
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Re: Are Bank Managers And BDC Truly Behind The Naira Value Crash? by mrrandomguy: 10:11pm On Feb 15 |
Bankers are the biggest fraudsters in the world. Unless the sale of dollars is totally outlawed on the streets, the nairal will continue to fall. 1 Like |
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