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Nairaland Forum / Nairaland / General / Business / Breaking : Dollar Is Rising Again - See Reason (3474 Views)
1 Dollar Is Now ₦1,070 / Tinubu is a genius:Breaking Dollar Below 1k / Breaking!!dollar Exchanges For ₦1,090 At Currency Markets In Nigeria (2) (3) (4)
Breaking : Dollar Is Rising Again - See Reason by lwise(m): 10:39am On Apr 20 |
Exchange rate as at this morning, Saturday 20th April is 1$ = N1,200. It's clear some individuals are mopping up the Dollars released by CBN for reasons best known to them. An unverified info stated that banks are the ones mopping up the Dollars in circulation in the name of clearing the backlog of the aviation industry. It's obvious these banks are working against the CBN goal to strengthen the Naira. CBN needs to step up its game because the banks are ready to use the loop holes in the CBN policies to their own advantage. https://www.nairablackmarket.com/ 1 Like
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Re: Breaking : Dollar Is Rising Again - See Reason by Fibonacci88: 10:40am On Apr 20 |
Una don start again 1 Like |
Re: Breaking : Dollar Is Rising Again - See Reason by Nukilia: 10:41am On Apr 20 |
Not until the bank executives are jailed for sabotaging the Nigerian state, all government policies will end up becoming a waste 9 Likes |
Re: Breaking : Dollar Is Rising Again - See Reason by tollyboy5(m): 10:43am On Apr 20 |
I noticed most of this site most especially crypto app are very reluctant to reduce their exchange rate even when the dollar dropped to ₦1000/$. I'm thinking majority of Nigerians including me prefer swapping currency digitally than going to aboki shop. And since the digital BDC or crypto apps are not following the street trend they sell and buy dollar at a higher rate. So more transaction is been done in usdt. I charged someone in dollar yesterday and when I got paid I got to exchange to naira immediately and got higher Dan my expectation. Maybe CBN will have to digitalize the process of this exchange rate against that of the usdt so we can also do this stuff at ease from our room. The BDC operators are not even needed to be honest, anyone that need forex should be able to apply online and get what he wants from his room if he met the requirements. I think it'll be easier to track the dollar flow through this method, the CBN should create a model that will override both the BDC and the usdt crypto apps. If not the usdt against the naira and those acquiring forex illegally will continue to depreciate the naira at will. 11 Likes 1 Share |
Re: Breaking : Dollar Is Rising Again - See Reason by ForValour: 10:45am On Apr 20 |
Production, use of local content are the sure ways to stabilize the floating naira other policies wont do nada 2 Likes |
Re: Breaking : Dollar Is Rising Again - See Reason by Ebios(m): 10:46am On Apr 20 |
Oh, not again! Why na? . Call 07035095205 for permanent solution to internal or systematic halitosis which is commonly called MOUTH ODOUR. . You won't buy any product from me. No! . It's just a prescription / direction l will give to you from this end, and you will get the solution. That's all. |
Re: Breaking : Dollar Is Rising Again - See Reason by alizma: 10:46am On Apr 20 |
Aboki again? |
Re: Breaking : Dollar Is Rising Again - See Reason by naijaboy756: 10:51am On Apr 20 |
Please this bad news should not occur oooo |
Re: Breaking : Dollar Is Rising Again - See Reason by Finquas: 10:51am On Apr 20 |
We told agbadorians is all propangandic falluting noise 4 Likes |
Re: Breaking : Dollar Is Rising Again - See Reason by MrProlific95: 10:58am On Apr 20 |
Blame, blame blame |
Re: Breaking : Dollar Is Rising Again - See Reason by Obainoman6: 11:22am On Apr 20 |
Tinubu and his white powder economics. 3 Likes |
Re: Breaking : Dollar Is Rising Again - See Reason by DevilsEqual(m): 11:26am On Apr 20 |
No wonder they call u guys haters of Nigeria I'm happy I'm not from that side Shame on u all 2 Likes |
Re: Breaking : Dollar Is Rising Again - See Reason by DeGods007(m): 11:31am On Apr 20 |
Still hoarding my $20k since last year Na my wedding money be that ![]() ![]() 3 Likes 1 Share |
Re: Breaking : Dollar Is Rising Again - See Reason by lwise(m): 11:43am On Apr 20 |
Finquas: It's not propaganda, some people are hell-bent on destroying the economy. The CBN should be alive to its responsibilities Have your agents in all banks CBN must know about every Dollar transaction in this country It's a lot of work and I believe we will get there 2 Likes |
Re: Breaking : Dollar Is Rising Again - See Reason by haggai247: 11:49am On Apr 20 |
Chipass cash sell at $/1350 today or more From 1220/$ last week to $/1300 then $/1350 |
Re: Breaking : Dollar Is Rising Again - See Reason by SenecaTheYonger: 12:07pm On Apr 20 |
lwise: Why won’t they mop up dollar when CBN made it soo cheap? I wish it went to 500/usd. With how high inflation is, you dare make dollar that cheap? Especially now people wan japa. I pray they bring it down again 🙏 |
Re: Breaking : Dollar Is Rising Again - See Reason by maziemeka2024: 12:09pm On Apr 20 |
It's all about speculation. Since the CBN governor claims he is not supporting the Naira from reserves and does not plan to. He has given the speculators power to control the market again. CBN should on Monday sell dollar to BDC at N1,000 and make it public that they are intervening in the market. Prices will come down to 1,000 or less. 6 Likes 1 Share |
Re: Breaking : Dollar Is Rising Again - See Reason by SenecaTheYonger: 12:13pm On Apr 20 |
tollyboy5: This won’t work except you ban dollar from Nigeria, Which will doom the country. You cannot control who can buy dollar because diasporians will bring in their dollar and sell at higher rate due to too much restriction by CBN. You will create a black market that even CBN has no control over and if Nigerians get used to it, there’s no going back. |
Re: Breaking : Dollar Is Rising Again - See Reason by Ate247(m): 12:15pm On Apr 20 |
Fibonacci88:very useless set of people. |
Re: Breaking : Dollar Is Rising Again - See Reason by Kelklein(m): 12:25pm On Apr 20 |
One word: Irrespónsibility Propaganda gets nobody nowhere.. What would get us anywhere is genuine effort and work.. Real Production. Industrial revolution. Reviving the steel sector.. getting the bigwigs already in Production to pay reasonable taxes (as it stands they devised a way to get around the system by patronising the government).. |
Re: Breaking : Dollar Is Rising Again - See Reason by Babalegba(m): 12:46pm On Apr 20 |
SenecaTheYonger:Lol, naira is cheap at 1100 per dollar. You can't get a meal with one dollar in the US but you get a solid meal with 1100 naira in Nigeria. Cheaper dollars brings inflation down in Nigeria. 1 Like |
Re: Breaking : Dollar Is Rising Again - See Reason by MichaelSokoto(m): 12:55pm On Apr 20 |
God abeg, make ee no rise again ejoor! ![]() 1 Like |
Re: Breaking : Dollar Is Rising Again - See Reason by quadraheem(m): 12:56pm On Apr 20 |
It’s a lie. You just wanna start your speculation again, it won’t work. |
Re: Breaking : Dollar Is Rising Again - See Reason by SenecaTheYonger: 1:14pm On Apr 20 |
Babalegba: Nigerians have adjusted to 1700/usd and then you reduce it to 1100? It means they will have more money (Naira) to buy up dollar. Somebody that bought dollar high to import goods, and then sold off all their goods now come and meet dollar at current price? It’s very cheap for them. They can import double of what they used to. And here’s the funny thing, their price will never come down. They’ll still sell their goods as if they bought dollar at 1700/usd and tell you it’s old stock. You can’t beat them. You must buy from them. So yea, let them keep dropping the rate. A lot of people are going to be stinkingly rich from importation. Importation is the new gold. 4 Likes |
Re: Breaking : Dollar Is Rising Again - See Reason by Nbote(m): 1:29pm On Apr 20 |
lwise: The banks are doing business. They know the policy of selling low to BDCs by the CBN is not sustainable on the long run. Ordinarily shouldn't it be the CBN giving banks forex? Why is the CBN giving forex to 3rd party agents (BDCs) |
Re: Breaking : Dollar Is Rising Again - See Reason by Whois(m): 1:35pm On Apr 20 |
Wirepay was 1k 2days ago. This is the current price today 04/20 haggai247:
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Re: Breaking : Dollar Is Rising Again - See Reason by TrennixGLOBAL: 1:35pm On Apr 20 |
lwise: I said this same thing 2 months ago and i made a thread on it. While the dollar was still falling then, i received more request for dollar funds and even USDT up to the tune of $1million. I began to wonder what is it they wanted to use it for until i finally understood. "The same people who were forcing and coercing individuals having dollars in their possession are the same people mopping it up." Bro don't be deceived, the banks are mopping up the dollar and keeping it for the real hoarders which happens to be the business moguls running the economy of Nigeria. The old man in Aso rock knows this and he knows them but he can't do anything to them for secret private reasons. 1 Like
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Re: Breaking : Dollar Is Rising Again - See Reason by TrennixGLOBAL: 1:38pm On Apr 20 |
DeGods007: Keep holding onto it and you would be happy you did. I can buy all your dollar funds though and more if you ever wanna sell. |
Re: Breaking : Dollar Is Rising Again - See Reason by CodeTemplar: 1:39pm On Apr 20 |
Tinubu and his armchair approach to real issues. |
Re: Breaking : Dollar Is Rising Again - See Reason by jesmond3945: 1:50pm On Apr 20 |
lwise:this is what I have been preaching since. I even tagged cardoso on twitter but they never listen. The banks have laundered all the dollars to drive their profit margin. |
Re: Breaking : Dollar Is Rising Again - See Reason by nawaforyouo: 1:56pm On Apr 20 |
maziemeka2024: this will not work anymore |
Re: Breaking : Dollar Is Rising Again - See Reason by maziemeka2024: 2:13pm On Apr 20 |
nawaforyouo: It will. Market is always about speculation. CBN should use speculation as a tool. 2 Likes |
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