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Nairaland Forum / Science/Technology / Technology Market / Exchange Rates Of International Currencies >>>Updates on First Page<<< (1257558 Views)
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Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by dragnet: 8:40am On Oct 15, 2016 |
bozz007:really? |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by tradeplusib: 8:56am On Oct 15, 2016 |
dragnet:Call it a send off gift or santas early xmas bonanza. ....... Yes, thats the first thing i checked too. Now where are all those my abandoned stanbic cards sef? ![]() ![]() ![]() |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by Tabbaz(m): 9:01am On Oct 15, 2016 |
onatisi: I got your point bro. Our nation is exceeding elastic limit gradually. May it not reach yield point o. 1 Like |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by dragnet: 9:02am On Oct 15, 2016 |
tradeplusib:link to their page please? |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by Tabbaz(m): 9:03am On Oct 15, 2016 |
Singapore1:Lol |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by tradeplusib: 9:04am On Oct 15, 2016 |
dragnet: Www.stanbicibtcbank.com middle right hand side 1 Like |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by dollaflow(m): 9:33am On Oct 15, 2016 |
$200 PayPal fund available |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by Nobody: 9:37am On Oct 15, 2016 |
please whats stanbic new daily and monthly dollar limit before the end of d naira card era? |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by EnterPRO: 9:57am On Oct 15, 2016 |
Mariesio: Maybe CBN has directed all banks to sell MC dollars at interbank rates going forward, that's why they are all stopping the service? 4 Likes |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by dragnet: 10:01am On Oct 15, 2016 |
tradeplusib:seen, thanks. |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by Mariesio: 10:01am On Oct 15, 2016 |
EnterPRO: See bad belle |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by EnterPRO: 10:04am On Oct 15, 2016 |
Mariesio: Depends. If they sourced their current dollars higher than N320 they might not want to sell at a loss. |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by opeyemmmy(m): 10:04am On Oct 15, 2016 |
EnterPRO: That's the case. The directive is for the banks not to charge more than N5 above interbank rate... forgetting that with the persistent acute shortage of FX, there is hardly any bank that will able to settle their card transactions. |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by EnterPRO: 10:07am On Oct 15, 2016 |
opeyemmmy: And they decided to lower limits to prevent round tripping. Case solved. Prophet Onatisi, that N1000/$ prediction go still far small oh. |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by EnterPRO: 10:11am On Oct 15, 2016 |
EnterPRO: I wonder what rate others like gtb and Access are charging. |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by opeyemmmy(m): 10:17am On Oct 15, 2016 |
EnterPRO: Yes. But then, that may not be enough, hence why most of the banks are stopping the service altogether. I don't expect any bank to settle card transactions at a loss, knowing that CBN is not doing enough to ease FX scarcity (and rate volatility) in the system. |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by mavinc4u(f): 10:24am On Oct 15, 2016 |
dragnet: Is N320. Called them to confirm |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by onatisi(m): 10:29am On Oct 15, 2016 |
EnterPRO:I never said it will reach 1000,go through my comments again. But the whole system will crash with all these flip-flopping decisions ,every investor wants a clear laid out clean simple regulation. The cbn is desperately looking for a solution and the solution doesn't lie with them but with the political leaders and the masses. The truth is defending the naira with all these measures without increasing local productions is just a postponement of doomsday. |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by BizBloke(m): 10:31am On Oct 15, 2016 |
onatisi: Key! Local productions that can meet - or almost meet - the consumption capacity of the populace and export capacity too. |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by EnterPRO: 10:38am On Oct 15, 2016 |
onatisi: Kk. Sorry about the 1000. Its still a possibility though. Next year maybe. opeyemmmy: I'm expecting a spread of 320-350 on cards and 350-400 on the streets as Travelex eases pressure a little. The current N470+ rate was highly due to speculation anyway. |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by onatisi(m): 10:42am On Oct 15, 2016 |
BizBloke:Honestly,they should have left the system the way it was,it was already getting to a point that the aboki rate and the bank rate was almost the same ,eventually it would have been the same . Export was already looking good and profitable while importation was starting to lose its attractiveness. Ppl would have been forced to look inward to produce in order to earn forex. It makes no sense strengthening ur currency when u virtually import every thing. Eventually speculators and forex buyers will troop into Nigeria and mop up the available forex that is what always happens then the nation will be back to square one 1 Like |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by onatisi(m): 10:47am On Oct 15, 2016 |
EnterPRO:rates are generally low during November to December because ppl troop into the country from abroad. Fx comes in a lot,most importers have already done their shopping in August and septem and those going for schooling abroad too left between that period ,that is the reason for the high price,now most importers are waiting for their goods to arrive and sell ,this is why the rates are low. But by Jan,it will pick up again. 1 Like
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Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by BizBloke(m): 10:54am On Oct 15, 2016 |
onatisi: You've got great points but don't exactly go with leaving the system the way it was simply because lots of people out there will suffer and truthfully die if the dollar keeps rising and hits N700, N850, N1000. ![]() ![]() Yet, what's happening now is only a temporary solution: a key indicator of a trial-and-error economic team, so they dabble into this and dabble into that, hoping that somehow, a quick fix will avail itself to cure Nigeria but that's never going to happen. Sadly, the naira will still crash because the pillars giving it strength right about this week/weekend will still weaken. If factories aren't set up (with good and steady supply of electricity) for local production, consumption and exportation, the naira will keep crashing. We've been running a mono-economy. 4 Likes |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by Opeyemi5(m): 11:02am On Oct 15, 2016 |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by opeyemmmy(m): 11:02am On Oct 15, 2016 |
EnterPRO: The directive was clear on a cap of N5 margin. Interbank rate for sometime now has been between N304.5 - N315; except the rate changes or CBN increases the margin, I don't expect card rate to be above N320. and 350-400 on the streets as Travelex eases pressure a little. 350-400 at the black market is a long shot. CBN has not done so much to expect such. And for me, I don't think the arrangement with Travelex is sustainable... though I hope I'm wrong on this. |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by didymario7(m): 11:03am On Oct 15, 2016 |
Anyone still offering western union or moneygram services? I need to send some money to brazil. please state your rate. Thanks |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by tradeplusib: 11:06am On Oct 15, 2016 |
Unfortunately as good as all these analysis seem you still have to accept that we have gotten ourself into a economic vicious cycle. We cant pursue long term solutions without short term wedges, else things will truly fall apart. 1 Like 1 Share |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by mavinc4u(f): 11:10am On Oct 15, 2016 |
opeyemmmy: Access bank has 2 rates at the moment; N375 for master card and N430 for visa card though they said it will come down. |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by dragnet: 11:13am On Oct 15, 2016 |
mavinc4u: Alright, maybe I'll visit their office to know the terms and conditions for their usd cards they advised people to get. |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by EnterPRO: 11:21am On Oct 15, 2016 |
opeyemmmy: Any idea when the N5 cap directive was issued? Any links? Thanks. |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by opeyemmmy(m): 11:23am On Oct 15, 2016 |
mavinc4u: What was it before today? I do expect them to review it downward in the coming days. |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by mayorall(m): 11:47am On Oct 15, 2016 |
mavinc4u: Access MasterCard isn't working online according to their customer service. |
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