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Nairaland Forum / Nairaland / General / Business / How Much Did You Exchange The Dollar For Today? (1140391 Views)
Naira Appreciates Against The Dollar / How Much Did You Exchange The Pound For Today? (2) (3) (4)
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Re: How Much Did You Exchange The Dollar For Today? by AbuMaryam1(m): 6:35pm On Feb 24, 2016 |
$ is trading @ 330, Abuja, Lagos and Kano. |
Re: How Much Did You Exchange The Dollar For Today? by agarawu23(m): 6:44pm On Feb 24, 2016 |
doyinisaac:lol I was shocked today when the price keep falling. My prayer be say make the black market rate low like (170#)pass bank rate so that we can steal back from those banks with western Union which will ofcus change at the rate of (197#) CBN rate. |
Re: How Much Did You Exchange The Dollar For Today? by pappilo(m): 6:51pm On Feb 24, 2016 |
GT Bank is N412.5 = £1 1730 GMT at UK cash machine |
Re: How Much Did You Exchange The Dollar For Today? by isacolukay(m): 7:24pm On Feb 24, 2016 |
agarawu23: Agarawu23, why hath thou forsaken me? |
Re: How Much Did You Exchange The Dollar For Today? by agarawu23(m): 7:37pm On Feb 24, 2016 |
isacolukay: isacolukay:lol Chat me up baba V Been busy No vex ![]() |
Re: How Much Did You Exchange The Dollar For Today? by snazzy5050(m): 7:46pm On Feb 24, 2016 |
hello tosinjay I lost my phohe ...... pls message me on whatsapp we need to talk..... Johnson from benin |
Re: How Much Did You Exchange The Dollar For Today? by topsquino(m): 7:54pm On Feb 24, 2016 |
stagger: Stagger, thanks. All these guys think everybody is desperate to sell dollars. The minimum monthly income I make freelancing alone is more than a thousand dollars. Thank God easter is around the corner ![]() |
Re: How Much Did You Exchange The Dollar For Today? by dokgen(m): 8:24pm On Feb 24, 2016 |
meetmal03: I need paypal dude. Paypal of 3000 dollars, How much you willing to sell? URGENT |
Re: How Much Did You Exchange The Dollar For Today? by dokgen(m): 8:25pm On Feb 24, 2016 |
topsquino:OGA PLEASE YOUR BOY FREELANCING O. What are you freelacin on ? |
Re: How Much Did You Exchange The Dollar For Today? by Nsonaso(m): 8:34pm On Feb 24, 2016 |
Aboki Fx
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Re: How Much Did You Exchange The Dollar For Today? by makzeze: 9:08pm On Feb 24, 2016 |
Re: How Much Did You Exchange The Dollar For Today? by stagger: 9:58pm On Feb 24, 2016 |
topsquino: No shakes. Our problem in this part of the world is we do not read. We don't look at other examples of currencies that have undergone crisis to know what happened. The Swiss National Bank swore to defend the minimum Euro to Swiss Franc exchange rate of 1.2000 which they fixed in September 2011 with all their resources. The fundamentals of the currency kept pushing against that peg until January last year when the SNB threw in the towel. The only explanation for the gain in the Naira is that someone somewhere must have pumped billions of dollars into circulation. Don't forget that a certain Dr Aluko had on Channels TV, accused Ifeanyi Ubah of giving Gov Fayose 2 million dollars for electioneering, which Dr Ubah denied. The man has access to a foreign exchange cache. Many politicians have millions of dollars stored in their homes. You need to go to Transcorp Casino in Abuja to see how foreign currency changes hands in the gambling tables. All that is needed is for these guys to come together to dump dollars in the market. Many of these guys got the dollars not by earning it but by stealing public funds. Dr Ubah by the international nature of his business has legal access to dollars. Dump all these dollars through a few BDCs and other means into the market and the supply will be so much that the value will drop. However, has that changed the underlying fundamentals? It has not. School fees season will soon come. So will travel season for summer and all what not. You will see these same billionaires buying back the dollar at present rates and once they have succeeded in mopping it all up, the scarcity will return and a new speculative run on the Naira will start. Once enough pressure has been exerted to the level where the CBN will keep depleting the foreign reserves, something will have to give. Nigeria is on the receiving end. Why is Buhari going to China to negotiate loans? This is because the World Bank and IMF will not give him a dime without devaluing the currency. It has always been the game plan to keep us subservient to these institutions and by continuously being an import-dependent nation filled with looters of the treasury, we will not come out of this mess. The only way to shore up the value of the Naira is to shun these foreign goods and buy made-in-Nigeria products, and also to start producing for export. At best, it will take at least 4 years to start seeing the effects. These things do not occur overnight. 27 Likes 6 Shares |
Re: How Much Did You Exchange The Dollar For Today? by grandstar(m): 10:43pm On Feb 24, 2016 |
stagger: Everything you said here was brilliant except where you said shun foreign products and patronise made-in-nigeria. Brilliant write up! 1 Like |
Re: How Much Did You Exchange The Dollar For Today? by oevenme(m): 10:57pm On Feb 24, 2016 |
Happy mood Don come again, thank God for the hard time that passed away. ![]() 1 Like |
Re: How Much Did You Exchange The Dollar For Today? by kaycodes: 12:34am On Feb 25, 2016 |
oevenme: Sorry to say, the hard times have not started. If oil price does not improve drastically before the 3rd quarter of the year, expect more hardship. Either way we have to brace up for tougher economic policies. And even with the right things put in place in Nigeria it will still take some time for things to get better. So until we successfully diversify the economy this dollar and naira game will continue. Then each time the dust settles we will have a new black market steady rate. Example, earlier speculations drive the dollar to 250, it then settled to 230... Now it went as high as 375, and is now settling to 2xx, maybe we might see a final steady price of 250. Then after a while demand will spike again and so on and so forth. The CBN cannot defend the naira for ever. That's my lay man's economics ![]() 2 Likes |
Re: How Much Did You Exchange The Dollar For Today? by topsquino(m): 12:45am On Feb 25, 2016 |
stagger: Thank you stagger for this brilliant post. One of the fundamental questions, which many gullible Nigerians have forgotten to ask is this: Why did the naira strengthen against the dollar? Not suprising, some are attributing this to Buharia's trip to mecca (KAI). I told many guys doing importation business today that today (perhaps tomorrow) is one of their best opportunity to buy cheap dollars. But many of them have this unrealistic notion that the exchange rate of dollar against naira will soon be $1/150 naira. Before some dissidents will say that I am unpatriotic, let me state categorically that such rate is possible but not in 2016. Even when the price of crude oil per barrel was above $100, Nigerians did not enjoy such boon. Actually, I thought I was the only one that pondered about this food for thought: If truly we have excess dollars or excess funds, why did Buhari travel to China to solicit for funds? Stagger, the solution you have recommended is brilliant, but you and I know Nigerians are not ready for such sacrifice. I have had several opportunities to discuss with some local government chairmen, and experience have shown that this guys don't care about you and I. The only way they believe they can oppress us is to send their family, concumbines, and siblings abroad so that they can continue to oppress us. In short, Nigeria is a place where the best never happens and where the worst never happens, according to rudolph okonkwo. 1 Like |
Re: How Much Did You Exchange The Dollar For Today? by SGCSolutions(f): 1:37am On Feb 25, 2016 |
BACK TO BUY!!!!! WILL BUY YOUR USD FOR 220 225/$ BETTER STILL YOU CAN SEND IN USD AND I ACCEPT IN GBP AND PAY 370 385/£ $100 = £69 (PAYPAL CURRENT RATE OF $1=£0.69) $100 X 225 = 22500 £69 X 385 = 26565 WHICH IS BETTER?? YOU DECIDE!! |
Re: How Much Did You Exchange The Dollar For Today? by dokgen(m): 2:25am On Feb 25, 2016 |
SGCSolutions: DOnt get it, you mean you are selling for 220? |
Re: How Much Did You Exchange The Dollar For Today? by teflonbuzz: 2:28am On Feb 25, 2016 |
1 naira to 1 dollar as of 3:00 pm Aba time |
Re: How Much Did You Exchange The Dollar For Today? by justi4jesu(f): 6:13am On Feb 25, 2016 |
Re: How Much Did You Exchange The Dollar For Today? by oevenme(m): 8:59am On Feb 25, 2016 |
justi4jesu: Lolz let's hope for the best anyway |
Re: How Much Did You Exchange The Dollar For Today? by miqos02(m): 9:23am On Feb 25, 2016 |
e don cheap like that? makzeze: |
Re: How Much Did You Exchange The Dollar For Today? by Abidex35(m): 9:23am On Feb 25, 2016 |
1 Like |
Re: How Much Did You Exchange The Dollar For Today? by aleshsenior2000(m): 9:30am On Feb 25, 2016 |
Everything is possible. Who could believe that dollar might fall like that? very unbelievable but it happens. |
Re: How Much Did You Exchange The Dollar For Today? by aikfrank(m): 9:55am On Feb 25, 2016 |
Urgently, I need $1,000 in Dom Acct. I use GTB. Let me know your rate. |
Re: How Much Did You Exchange The Dollar For Today? by bashit(m): 9:57am On Feb 25, 2016 |
USD rising, now selling 310 in Abuja 1 Like |
Re: How Much Did You Exchange The Dollar For Today? by spinoff: 10:05am On Feb 25, 2016 |
stagger: |
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