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It’s N209 To $1 As Appetite For Dollars Falls - Business (3) - Nairaland

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Re: It’s N209 To $1 As Appetite For Dollars Falls by mecuzee(m): 9:02pm On Aug 03, 2015
Thanks for the correction!
MabraO:



Must u display ur ignorance for all to see?
Re: It’s N209 To $1 As Appetite For Dollars Falls by twosquare(m): 9:04pm On Aug 03, 2015
bettercreature:
We are talking about parallel market
That's none of my concern...while I'm talking generally....either parallel or not.....it will still hit the roof soon....just wait till December. If proper amenities are not put in place that will serve as shock absorber for the economy....we are on a long thing....

2 Likes

Re: It’s N209 To $1 As Appetite For Dollars Falls by derecho(m): 9:06pm On Aug 03, 2015
Unfortunately, this means nothing to the poor man on the street. The price of foodstuffs hasn't reduced. The elections are over please. Nigerians are not interested in all these propagandas.This should translate to cheaper foodstuffs,we should buy kerosene cheaper than before if the refineries are now working.

2 Likes

Re: It’s N209 To $1 As Appetite For Dollars Falls by 4Play(m): 9:06pm On Aug 03, 2015
This is a temporary reaction to certain policy changes particularly in relation to domiciliary accounts. Naira depreciation will resume in due course because the underlying problem, collapse in oil prices, remains unchanged.

The OP is simply providing the PDP e-warriors ammunition to be used in the future.

9 Likes

Re: It’s N209 To $1 As Appetite For Dollars Falls by bettercreature(m): 9:07pm On Aug 03, 2015
twosquare:
That's none of my concern...while I'm talking generally....either parallel or not.....it will still hit the roof soon....just wait till December. If proper amenities are not put in place that will serve as shock absorber for the economy....we are on a long thing....
Only our foreign reserve can boost the exchange rate for #1=$1 to ever happen,we need about 500billion dollars foreign reserve which is not realistic,let's see what PMB can do in the next 4 years

1 Like

Re: It’s N209 To $1 As Appetite For Dollars Falls by philipobiz: 9:07pm On Aug 03, 2015
ellabooz:
Why all this propaganda?
No go fight your malam for this cheap lies oh.

As at today, dollars sell at 230 naira per dollar.

Lies everywhere

Don't agree with you. I bought dollar for 202 in Benin city today. Am sure it will go below 200

6 Likes

Re: It’s N209 To $1 As Appetite For Dollars Falls by Progtlake(m): 9:07pm On Aug 03, 2015
fx-rate.mobi/USD/NGN/ 1$ to 199#

1 Like 1 Share

Re: It’s N209 To $1 As Appetite For Dollars Falls by Progtlake(m): 9:07pm On Aug 03, 2015
fx-rate.mobi/USD/NGN/ 1$ to 199#
Re: It’s N209 To $1 As Appetite For Dollars Falls by MizMyColi(f): 9:08pm On Aug 03, 2015
This kind of news is relieving.
When I saw 250 to 1$ on the frontpage, I was worried.
I felt like nothing is working really.

But reading this is a silver lining.
It is worth celebrating.
I hope that the trend is continued.

I ask for more direction and clarity to those who have made this feat a possible one.

It is well with Nigeria.

10 Likes 1 Share

Re: It’s N209 To $1 As Appetite For Dollars Falls by favouritesahaba: 9:08pm On Aug 03, 2015
ellabooz:
Why all this propaganda?
No go fight your malam for this cheap lies oh.

As at today, dollars sell at 230 naira per dollar.

Lies everywhere

Where did you buy at #230.00?

Perhaps you live in far village.

7 Likes 1 Share

Re: It’s N209 To $1 As Appetite For Dollars Falls by iretiland: 9:09pm On Aug 03, 2015
I really can't belive that this Emefiele is still allowed to parade himself as the CBN gov. Every day he stay out in that office will lead to further economic problem for Nigeria. He was the most unqualify and undeserving of that important office. His cluelessnes is showing through in his management of our economy and he has now reverted to the BLACK MARKET, 419 and DUBIOUS management style he and his team at Zenith Bank are used to and which makes that bank the friend of all corrupt Governors in Nigeria in the most recent era. In terms of macroeconomic knowledge required for managing an economy, Emefiele is and will continue to be a WASTE of SPACE. The EFCC should be allowed to use Zenith Bank to get him out of our life for proper change to begin.
Re: It’s N209 To $1 As Appetite For Dollars Falls by viruz007(m): 9:10pm On Aug 03, 2015
400billionman:


PayPal things loading..

Bros u sabi the koko

1 Like

Re: It’s N209 To $1 As Appetite For Dollars Falls by titoetal(m): 9:10pm On Aug 03, 2015
Eluala:
So if one cannot pay the forex into his account, how does he do TT to pay for goods and services purchased abroad?

Please someone with informed answer please.

Use your naira denominated cards (Mastercard & Visa) to pay for your goods.

2 Likes

Re: It’s N209 To $1 As Appetite For Dollars Falls by braine(m): 9:12pm On Aug 03, 2015
Realdeals:
Okay, I did N213 today, the mallam even told me it will hit 160 this month.
Why would the mallam think it'll go that low?
Re: It’s N209 To $1 As Appetite For Dollars Falls by AhmadMind: 9:13pm On Aug 03, 2015
[size=28pt]I advise you to keep buying Dollars as Dullards sell off..... The value of Naira CANNOT change by strong hand or magic ...

MOST world Finance experts have said that the Naira is took strong for investors + it is VOLATILE,..... Nobody will invest until thy allow the currency to find its true value!![/size]

bettercreature:
You got screwed i sold it 200naira today so dont doubt it if they say its 209

4 Likes

Re: It’s N209 To $1 As Appetite For Dollars Falls by bettercreature(m): 9:14pm On Aug 03, 2015
philipobiz:


Don't agree with you. I bought dollar for 202 in Benin city today. Am sure it will go below 200
It can not go below normal forex rate else people will take it to ghana
Re: It’s N209 To $1 As Appetite For Dollars Falls by ceoinvest: 9:14pm On Aug 03, 2015
sai baba walahi!!!!! grin grin grin grin grin grin
Re: It’s N209 To $1 As Appetite For Dollars Falls by idu1(m): 9:14pm On Aug 03, 2015
Alhamdulilah!!!
Re: It’s N209 To $1 As Appetite For Dollars Falls by breeze23: 9:15pm On Aug 03, 2015
titoetal:


Us your naira denominated cards (Mastercard & Visa) to pay for your goods.
He is talking of T/T. Can MasterCard or visa used to pay for T/T?
Re: It’s N209 To $1 As Appetite For Dollars Falls by owagbeba: 9:16pm On Aug 03, 2015
Eluala:
So if one cannot pay the forex into his account, how does he do TT to pay for goods and services purchased abroad?

Please someone with informed answer please.

That's the same question I have been asking myself all day; how can I pay foreign business partner?

I was at UBA this morning for FX transfer. Since I could not pay into my dormicillary account, I requested cash transfer; but they refused. I can not deposit USD, i can transfer USD or Naira.So what's the way out of this situation?

Is fx transfer possible at Cotonou?


@CBN
Governor is wrong when he said you'd be arrested for trying to deposit foreign currency overseas. Many banks like China merchant bank, bank of china, Korea exchange bank, etc., have dual account facility for their customers: local currency and foreign currency accounts.

4 Likes

Re: It’s N209 To $1 As Appetite For Dollars Falls by bettercreature(m): 9:17pm On Aug 03, 2015
AhmadMind:
[size=28pt]I advise you to keep buying Dollars as Dullards sell off..... The value of Naira CANNOT change by strong hand or magic ...

MOST world Finance experts have said that the Naira is took strong for investors + it is VOLATILE,..... Nobody will invest until thy allow the currency to find its true value!![/size]

Our foreign reserve is increasing every week,if it keep going on like this for the next 4 years,Naira will surely appreciate no worries
Those companies who ran to ghana will come back in the next few weeks

6 Likes

Re: It’s N209 To $1 As Appetite For Dollars Falls by Nobody: 9:17pm On Aug 03, 2015
philipobiz:


Don't agree with you. I bought dollar for 202 in Benin city today. Am sure it will go below 200
Buyer, what are you doing with dollars? Lai Muhammed look alike.

1 Like

Re: It’s N209 To $1 As Appetite For Dollars Falls by AskProf: 9:18pm On Aug 03, 2015
JustCalMeDBoss:
The only person who should be credited is the CBN govenor but the masturbators masturbate their thought into thinking its the dullard

Read through again, the CBN Governor said it wasn't his decision but, he supports it.

2 Likes

Re: It’s N209 To $1 As Appetite For Dollars Falls by Faraidi(m): 9:19pm On Aug 03, 2015
vicadex07:
You see why PDP was wailing in the initial thread. They dont want the dollars they accumulated during election period to devalue.

Any PDP supporter on nairaland that doesn't see any good in this administration is "cursed" angry
you must be zombie,how much did GEJ left it? Mumu
Re: It’s N209 To $1 As Appetite For Dollars Falls by Toktee(m): 9:19pm On Aug 03, 2015
Firefire:
Good move...
seriously?

1 Like

Re: It’s N209 To $1 As Appetite For Dollars Falls by ozo13(m): 9:20pm On Aug 03, 2015
ellabooz:
Why all this propaganda?
No go fight your malam for this cheap lies oh.

As at today, dollars sell at 230 naira per dollar.

Lies everywhere
na wetin me see online be dis o.d thing is still going down or am getting it wrong.

1 Like

Re: It’s N209 To $1 As Appetite For Dollars Falls by Nobody: 9:20pm On Aug 03, 2015
sweet news.

1 Like

Re: It’s N209 To $1 As Appetite For Dollars Falls by NaLaugh: 9:22pm On Aug 03, 2015
Realdeals:
Okay, I did N213 today, the mallam even told me it will hit 160 this month.

The fact is that the official exchange rates (about $1 = N199) hasn't changed for many months.

The black market is a different ball game, and your mallam can make predictions only as low as the official rate.
Then again, he will make zero profit at official rate, so.. you be the judge.
He and his colleagues can directly influence black market rates. However, they have little to no effect on official rates.

This means any predictions of a sharp rise in the Naira's value from N199 to N160/$ within the next few months is highly improbable.
Re: It’s N209 To $1 As Appetite For Dollars Falls by Aitee1: 9:23pm On Aug 03, 2015
Realdeals:
Okay, I did N213 today, the mallam even told me it will hit 160 this month.

Wow, can't wait! Got a lot of stuffs to buy online
Re: It’s N209 To $1 As Appetite For Dollars Falls by Toktee(m): 9:23pm On Aug 03, 2015
Xetima:

Buyer, what are you doing with dollars? Lai Muhammed look alike.
young man,all fingers are not equalok

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