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Nairaland Forum / Nairaland / General / Business / CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 (21341 Views)
CBN Sells Fresh Dollars To Bdcs At N1,021/$ / CBN Sells Over $300m To Banks As Naira Gains / CBN Sells Dollars To Banks For First Time In 5 Months (2) (3) (4)
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Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by rinzaugustine: 12:48pm On Apr 08 |
Orinechi:did I stop you from being happy afterall nad people dancing in the streets are happy too |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by Coronavirus1: 12:51pm On Apr 08 |
clarocuzioo:Are you working in CBN learn to appreciate good thing not everytime on a bad side. 8 Likes 1 Share |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by blowjohn(m): 12:53pm On Apr 08 |
Paraman: Lol the Guy go don Dey buy eba and egusi with chicken thigh with the dollars sef 3 Likes |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by Paraman: 12:54pm On Apr 08 |
Owon:You can't get $ at 1300 anywhere in Nigeria. Dollar is below 1160. BDC can't sell dollars above 1117. 2 Likes |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by aywagze(m): 12:55pm On Apr 08 |
Abido shaker power is doing wonders ..🤔 6 Likes |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by enemyofprogress: 12:57pm On Apr 08 |
That is very sheep |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by MrSly(m): 12:57pm On Apr 08 |
LegendHero:You are ignorant of what is happening. You borrow to defend naira, going back to the very thing they rightly criticised and how long can it be systained? |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by lapintoz: 12:58pm On Apr 08 |
Obioma the tailor......is that you 😁 rinzaugustine: 6 Likes |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by Taiwo20(m): 1:00pm On Apr 08 |
its now the turn of the BDCs to see SHEGE Happy Viewing BTW, Those of you that are against japaing. This is one of the ways government policies can change your life,status etc 2 Likes |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by vikstandon(m): 1:04pm On Apr 08 |
Accumulate as much of it as you can, as it goes down. Wisdom! |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by PARADIZEPRIEST: 1:05pm On Apr 08 |
TO ALL OF UNA WEY DEY WISH NAIJA BAD,UNA EVIL DON WASH THRO WAY,UNA BADMOUTHING DON BACKFIRE, NIGERIA IS GETTING BETTER WITH GOD HELPING PTINUBU TO MAKE IT BETTER IFSHA 5 Likes |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by PARADIZEPRIEST: 1:06pm On Apr 08 |
PARADIZEPRIEST:all the accumulated problems from past misrule of over40years will be soaked and solved 2 Likes |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by commoditiesnig: 1:08pm On Apr 08 |
abc115:Goodnews! 2 Likes |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by providencia(m): 1:09pm On Apr 08 |
Why should there be bdc in the first place? 2 Likes |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by ibechris(m): 1:10pm On Apr 08 |
maasoap: By then,importers must have brought in new goods. 2 Likes 1 Share |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by Elliotwaveforec: 1:14pm On Apr 08 |
Omo, black market don crash immediately . CBN dey press their button wells. 8 Likes
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Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by routed: 1:17pm On Apr 08 |
LegendHero: It's going to stabilize between $600 and $650 7 Likes 2 Shares |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by Kukutenla: 1:18pm On Apr 08 |
LegendHero:So what was the wisdom behind floating the naira abi na sinking 1 Like |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by Donaldoni: 1:18pm On Apr 08 |
Great! 1 Like |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by routed: 1:19pm On Apr 08 |
inoki247: They should hold their dollar tight 😀 It going below $900 in 2 to 3 weeks. 4 Likes |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by Donaldoni: 1:20pm On Apr 08 |
Piiigggs are in serious pains Continue sponsoring fake CBN reports of foreign reserve depletion. Tinubu is the last person that will subsidize dollar 4 Likes 1 Share |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by Ebubu2: 1:21pm On Apr 08 |
inoki247:They unified it and then started defending it. After a while the borrowed dollar they use to defend it will finish and then there will be an increase again in price of dollar say to 1,500-1,700 What do you think sir ? |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by LegendHero(m): 1:21pm On Apr 08 |
Kukutenla: One of the main wisdom is to collapse the gap between BDCs and Banks. Mind you, CBN implemented a managed float and not a full float. Naira currently don’t have the resources to go head to head with the USD, which explained why CBN did a managed float. You can see Tinubu always mention the rate gap in his speeches. It is one of the reason Emefiele failed, he is just subsiding some group of people at 450 and they reselling at 750 which made CBN intervention a failure. 6 Likes
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Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by Obere4u: 1:22pm On Apr 08 |
grandstar: You forgot that they repaid loans, pay back trapped funds 6 Likes 2 Shares |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by LegendHero(m): 1:22pm On Apr 08 |
routed: Let’s hope so. That will be fantastic. 1 Like |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by Kukutenla: 1:25pm On Apr 08 |
LegendHero:That's not true Stop selling lies Floating the naira is to trade it at its real market value more to close gap between official and parallel rates. What is on ground now is the managed float. That's why CBN is pegging the rates against the lower band of the quoted rates. To close the gap simply entails selling directly to BDCs and not floating. You can see that the rates never converged while the float lasted and only converged when CBN started selling directly to BDCs. Your Tinubu bleeped the naira up with his policies 1 Like 1 Share |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by routed: 1:25pm On Apr 08 |
iamdynamite: Yeyenatu people! They are enemy of State. 4 Likes |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by Iko5000: 1:30pm On Apr 08 |
I suspect that is now happening but time will tell . laivwire: |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by routed: 1:30pm On Apr 08 |
MrSly: You are the ignorant one here. Who borrowed to defend naira? Are you the one that help CBN borrow? If you don't understand the basic economy of fiscal and monetary effects on nation currency, kindly stop from making ignorant comments. 4 Likes |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by Okoroawusa: 1:35pm On Apr 08 |
laivwire:Peter is robbing Atiku to pay Tinubu 3 Likes |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by LegendHero(m): 1:40pm On Apr 08 |
Kukutenla: It has always been managed float. The rates have always converged compared to what was obtainable during Emefiele. The difference is not that much even before now. Anytime parralel increase, Cardoso increase it at official. Lol 😂 fuvked up with policy? Was Emefiele not selling to bank who inturn sell to BDC that created up to 40% differentials? Don’t you know what is currently happening is making naira goto some true rate? At some point it will stabilize, that’s Cardoso end game. Give Cardoso time till the end of the year and come back to review your comment and that’s when you’ll know what’s up. I hope you don’t have $$ at hand, it’s better you sell it off or use it for productive enterprise or else you go cry when it falls down flat. Una go cry whin all you naysayers. 6 Likes |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by michaellovaldo(m): 1:41pm On Apr 08 |
Hopefully we'll get lower than N900 per $1 before August 2 Likes |
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