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Nairaland Forum / Science/Technology / Technology Market / Exchange Rates Of International Currencies >>>Updates on First Page<<< (1257521 Views)
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Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by bdavis: 7:54pm On Oct 15, 2016 |
Who needs ebay checkout? Available@410/$, can do up to $2k. Contact on my siggy (whatsapp or telegram) Exahusted |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by 989900D: 8:00pm On Oct 15, 2016 |
Are Stanbic and Access bank cards still working for international POS and ATM purchases; online too? |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by Singapore1(m): 8:02pm On Oct 15, 2016 |
989900D:Nope |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by Opeyemi5(m): 9:33pm On Oct 15, 2016 |
PayPal fund needed $700 Only trusted seller please |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by BizBloke(m): 10:09pm On Oct 15, 2016 |
Durosure: If by the highlighted, you mean it'd make raw materials relatively cheaper for international industries to buy, produce and import to Nigeria, I think that doesn't hold any economic water. It'll go full circle and come right back to bite our asses. If you mean making the raw materials relatively cheaper for local industries, we produce and export to other countries, it makes sense because over time, it'll lead to balance of trade and payments. Currently, trade and payments are negatively tilted against this country. I think you mean $1 to 1 RMB (yuan). That's about 85.14% decrease in exchange rate value between both currencies and that's difficult to come by in the short-run. In the medium- or long-run, everything is possible. 2, looking inward. Naturally people will seek alternatives just like student are now considering combination of Yam/bread with beans instead of the over maggi jollof and fried. Yam consumption will increase thus moving the price shift outward due to Rachet effect. Now A good number of Nigerian youth will be encourage to farm considering increase in Revenue from agric produce. True that! Yet, a shift in consumption pattern on an aggregate level won't result in aggregate production of farming produce except there's a private-public partnership. A good number of Nigerian youths going into farming won't fix the economy by a good percentage because they need stable electricity, they need machinery, they need venture capital, they need adequate storage facilities, they need good transportation, etc. The government has to be involved. 3. Inclusiveness and transparency. Since we are on zero subsidy there is no free launch and people would ask questions as per why,how, when did event occur expecting more comstructive and realistic answer from the Authority. I like this point most. I wish we ask more [right] questions and wish we did during the last election campaign when we were promised 99.64% drop in the dollar-naira value which is basically mathematically impossible for Nigeria to achieve in half a decade. 4, Nigeria Economy is service oriented jumping off the natural process most economy are experiencing which is industrialization, development is technically cyclical. Most Nigerians work with Indians or Chinese just say foreigners importing finished or semi finish goods, then employ Nigerians for sale,marketing,factory worker and Nigerians are not really producing by doing this but they are promoting another economy, they earn low income. But in this case Nigerians will have comparative advantage producing locally either on small or large scale which will increase the National Output in no time Being service-oriented isn't bad in its entirety; it's bad when Nigerians are made to slave (not work) and earn low income (like you pointed out) for Indians, Chinese, Lebanese, etc. within the territorial boundaries of this country. Heck! The employment regulatory body in the country pisses me off. If Nigerians work for these people and earn right, I don't mind. Exportation doesn't involve products only; it encompasses services, platforms, etc. In the case of #1000=1usd, i think CBN should seat tight in term of workable policy to checkmate the activities of Commercial Banks regarding forex and local interest rate.. Spot on! Let's hope she does right by the naira and she's not on this trial-and-error swing she occasionally plays on. 4 Likes |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by omotisa: 11:08pm On Oct 15, 2016 |
It appears the banks reduced their limits and stopped the use of their cards outside of Nigeria in reaction to regulatory directive to ensure that their rates are close to the interbank rate. Today, Stanbic and GTbank are communicating to customers on twitter that their indicative rates for the dollar is 320 naira. The Honeymoon is over for them. I am sure they made so much money while it lasted. 3 Likes |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by dollaflow(m): 11:20pm On Oct 15, 2016 |
PayPal fund available |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by didymario7(m): 11:35pm On Oct 15, 2016 |
I logged into my Skrill account and saw this message "Please be aware that we no longer accept deposits via bank cards & Dorm or facilitate withdrawals in US dollars". I am guessing CBN has ordered payment services to stop accepting USD deposits and withdrawals in Nigeria. Who else has noticed this? |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by Macaulish(m): 11:45pm On Oct 15, 2016 |
didymario7: Nothing of such on my account. I just log in to check. Also I sold $160 USD Skrill fund on Thursday. Re=Posting as at now. It just came up on account also. But am not sure it has something to do with our Naira o unless the message is restricted to all Nigerian Skrill account holders ONLY |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by Macaulish(m): 11:59pm On Oct 15, 2016 |
SKRILL.. SO I CLICK ON WITHDRAW & THIS CAME UP (1ST IMAGE).. AND I THEN CLICKED ON UPLOAD THE 2ND IMAGE CAME. To My understanding the Message is restricted to Uploading and Withdrawal of Funds. Not to Sending Money because nothing of such came up.
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Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by didymario7(m): 12:24am On Oct 16, 2016 |
Macaulish: If we can no longer upload and withdraw funds via Skrill, then the service is as good as useless to Nigerians. With this move, Nigerians will abandon Skrill. |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by onatisi(m): 12:47am On Oct 16, 2016 |
didymario7:What the message means is that they will not be using dollars as transfer currency anymore. So if u want to send 100$ to someone ,you will no longer see dollars but euros if u are withdrawing it will also be in euros. There is no big deal about it,the site should have a currency conversion page thatbu can see the current rate of dollars to euros before transactions. Whenever the banks start fx on their cards again and u want to upload , the money will be deducted in euros and not dollars 2 Likes |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by hardniola(m): 12:53am On Oct 16, 2016 |
u can withdraw to euro docile account and if u want to upload they would change it to euro instead of dollar |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by onatisi(m): 12:56am On Oct 16, 2016 |
hardniola:simple as abc. |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by Adebayolove(m): 3:07am On Oct 16, 2016 |
100$ Agc available. 385N/$. Contact on signature. |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by fizzyf4: 4:48am On Oct 16, 2016 |
$100 Agc available at the rate of 380 Whatsapp : 090280772four7 |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by didymario7(m): 6:11am On Oct 16, 2016 |
hardniola: You cannot upload and withdraw in Euro with your USD Skrill account. This feature is reserved for their VIP members and virtually all Nigerian accounts don't belong. Correct me if I am wrong |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by didymario7(m): 6:15am On Oct 16, 2016 |
onatisi: It is a big deal because you cannot upload/withdraw euros into a Skrill USD account. This feature is reserved for their VIP members and virtually all Nigerian accounts don't belong. Correct me if I am wrong |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by onatisi(m): 6:22am On Oct 16, 2016 |
didymario7:They will adjust it since the change of policy is from their side. They are the ones that changed the rules ,try.and upload or withdraw first and see what happens |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by didymario7(m): 6:29am On Oct 16, 2016 |
SKRILL- We charge an additional 2.99% for transfers between USD, GBP, EUR, CAD or PLN currencies. 3.99% for transfers between USD, GBP, EUR, CAD, PLN and any other currency. 4.99% for transfers involving any other currency – this fee will change to 3.99% from 25th January 2016.) |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by didymario7(m): 6:52am On Oct 16, 2016 |
onatisi: No it won't be adjusted. If you are uploading into a Skrill USD account when you get to the upload page, you have to enter the amount you want uploaded in USD and there is no option to change this. Let's even assume you close your USD account and create one domiciled in EURO. What this means is that you will be paying atleast 2.5%-5% more depending on how you get the Euro into that account and whom you are transferring to. If you also factor in the fact that Skrill funds are sold at near black market rates it becomes obvious that the service is as good as dead in Nigeria. 3 Likes |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by onatisi(m): 6:55am On Oct 16, 2016 |
didymario7:Dont get urself worked up yet. Try and upload first and see what happens . |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by Nobody: 7:41am On Oct 16, 2016 |
AleAirHub:That is 1.18162bitcoin |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by Zdoh(m): 8:26am On Oct 16, 2016 |
didymario7:Skrill gave me a sleepness night walahi.It's time to port and started thinking many alternatives. |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by EnterPRO: 8:44am On Oct 16, 2016 |
omotisa: This was what I expected the first time naira was floated months ago. I was amazed it didn't happen (banks selling at interbank rates) Now that its happened, its a pity it will only last a few days. 1 Like |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by onatisi(m): 8:53am On Oct 16, 2016 |
EnterPRO:Bro,the bitter truth is this fx problem will continue till 2019 and it will get worse by 2018. There is no quick fix to the problem except the nation starts producing. All these cbn policies are just a bloody waste of time. The political leadership has done virtually nothing and I mean absolutely nothing in the last 2 years to give the nation and breakthrough. I really pity the cbn governor because he has to carry all the blame and has to be searching for temporary solutions to the acute deficiency of the political leadership. I said it ,any sensible investor will be buying now and not selling in order to see what plays out next week. The nation is currently been ruled by zombies who are just one way thinkers . 1 Like |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by EnterPRO: 9:14am On Oct 16, 2016 |
onatisi: Its a pity really, and the banks are busy committing daylight robbery and refusing to give out loans. How can we be productive? Wish CBN can sanction them to the tune of billions same way NCC sanctions telcos. Such fines can then be pumped into other areas like SURE-P. 1 Like |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by EnterPRO: 9:16am On Oct 16, 2016 |
Is GTB really N320 now? When are they stopping their own card usage? |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by onatisi(m): 9:24am On Oct 16, 2016 |
EnterPRO:You cant blame the banks for not giving out loans. Do u know the amount of bad debts or loans these banks have on their necks? The Nigeria environment is a very difficult terrain to do business in and only business vultures like the Chinese and asians can cope because they too are dubious. There is no concrete database ,nothing! Many ppl collect loans with the intention of not paying back,I heard about a man that went to a bank and asked for a loan and he actually took his lawyer friend along basically to find loopholes to not payback. Agriculture remains the nations best bet. Very soon u will start hearing stories from and about travelex too |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by goldtooth: 9:25am On Oct 16, 2016 |
EnterPRO: I dont know when gtb is stopping theirs, but stanbic is 18th which is Tuesday, so i intend to make a payment of $100 via paypal today using stanbic card. Make i enjoy the N320 rate from stanbic before it ends |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by omotisa: 9:36am On Oct 16, 2016 |
EnterPRO: Yes, as reported on the bank's twitter handle @gtbank_help. |
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