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Nairaland Forum / Nairaland / General / Business / ➜ ➜ ➜Currency/E-currency Market Deals➜ ➜ ➜ (5434048 Views)
Black Market Deals / Central Bank Injects $210 Million Into Currency Market / E-currency Market For Port Harcourt Residents Only!! (2) (3) (4)
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Re: ➜ ➜ ➜Currency/E-currency Market Deals➜ ➜ ➜ by AleAirHub(m): 3:39pm On Nov 27, 2016 |
Yes oooo.... Ours is totally different. How was service today, my was great. Bravo mayorall: |
Re: ➜ ➜ ➜Currency/E-currency Market Deals➜ ➜ ➜ by Day11(m): 3:41pm On Nov 27, 2016 |
oluwainfin: Cash Transfer @470niara/$ |
Re: ➜ ➜ ➜Currency/E-currency Market Deals➜ ➜ ➜ by AleAirHub(m): 3:45pm On Nov 27, 2016 |
Bookiemart01: |
Re: ➜ ➜ ➜Currency/E-currency Market Deals➜ ➜ ➜ by AleAirHub(m): 3:45pm On Nov 27, 2016 |
Open eye Singapore1: |
Re: ➜ ➜ ➜Currency/E-currency Market Deals➜ ➜ ➜ by Nobody: 3:46pm On Nov 27, 2016 |
BRIEF ANALYSIS FOR NAIRA LAND BUREAU DE CHANGE On the teeming streets of Lagos, the Nigerian mega-city of 15 million people, the once omnipresent money-changers are going underground. They’ve become the latest target of authorities desperate to bolster the naira and crush a black market for foreign currency that’s boomed since the crash in oil prices strangled the inflow of dollars and battered the economy. This month, the Central Bank of Nigeria capped prices that Bureau De Change (BDC) can charge their customers for foreign exchange, effectively pegging the black-market rate, with intelligence agents threatening to jail anyone who doesn’t comply. The activities of the security agents is creating a parallel market within the black market, according to analysts at Lagos-based Afrinvest West Africa Limited stated. One trader in the Lagos suburb of Surulere, who asked not to be identified as he feared arrest, told Bloomberg that he would continue using the old rate with trusted customers and refuse to sell dollars to others. Anyone he doesn’t know may be a government spy, he said. “The black market will go further underground,” an analyst at Afrinvest, Omotola Abimbola said. “The fact they went as low as getting security forces on the streets shows a new level of desperation.” Nigeria’s interbank market sets the naira’s official value and is meant to serve businesses. But the scarcity of foreign-currency has forced many to go to licensed bureaux de change and the unofficial, or black, market of informal street traders, both of which sell dollars at a higher rate. The central bank has made several attempts to defend the naira after it plunged in late 2014 along with crude prices. Stock and bond investors are staying away from Nigeria, pointing to the wide gap between the official exchange rate and the black-market one of about N470 to a dollar. Forward prices suggest the naira will depreciate further on the official market, with 12-month contracts trading at 441 against the greenback. The Department of State Services recently raided bureaux de change and black-market traders and instructed them to cap their rates at N400 per dollar. As a result, people with hard currency are hoarding it rather than selling at an artificially low rate, according to Haruna Usman, a money-changer in Lagos. “It’s a struggle even to get someone to sell us $200, whereas before they’d often sell us $1,000 or $5,000,” the kaftan-clad Usman said from the mosque compound where he trades. “Now, they’re only exchanging when they’re desperate.” The central bank is in no mood to back down. CBN Governor, Mr. Godwin Emefiele said this week that “the security agencies should sustain their checks on the activities of illegal foreign-exchange operators in order to bring sanity to that segment of the market.” It’s another signal to foreign investors that Nigeria’s currency policy is broken, according to JPMorgan Chase & Co. “The Central Bank of Nigeria is clearly not ready to embrace a truly free-floating exchange rate and arguably has further undermined the confidence in the exchange-rate regime,” analysts at the New York-based lender,Yvette Babb and Sonja Keller, said in a note to clients. “These events are likely to deter inflows.” Nigeria isn’t the first country to clamp down on black-market trading. Egypt also arrested street dealers while pegging its currency’s official rate, until a dollar-squeeze forced it to devalue on November 3. Cc Singapore1 1 Like 1 Share |
Re: ➜ ➜ ➜Currency/E-currency Market Deals➜ ➜ ➜ by 3RNEST(m): 3:46pm On Nov 27, 2016 |
Bookiemart01:Thanks Bookiemart u deserve a kiss @Lifestyle1 Dude Thanks transaction was Painless.. Lolz my first escrow ever in NL... E no easy na Baba God... 1 Like |
Re: ➜ ➜ ➜Currency/E-currency Market Deals➜ ➜ ➜ by 3RNEST(m): 3:49pm On Nov 27, 2016 |
AleAirHub:Make E just be like that... |
Re: ➜ ➜ ➜Currency/E-currency Market Deals➜ ➜ ➜ by Nobody: 3:50pm On Nov 27, 2016 |
. |
Re: ➜ ➜ ➜Currency/E-currency Market Deals➜ ➜ ➜ by Tabbaz(m): 3:52pm On Nov 27, 2016 |
$820 Btc Available To Be Sold At Once |
Re: ➜ ➜ ➜Currency/E-currency Market Deals➜ ➜ ➜ by DianDJC(f): 3:55pm On Nov 27, 2016 |
Paypal funds still available. Contact me@08068496407. |
Re: ➜ ➜ ➜Currency/E-currency Market Deals➜ ➜ ➜ by HazzanTazzan(m): 4:00pm On Nov 27, 2016 |
HazzanTazzan: thanks to bookiemart01 for playing the referee btw me and this cool dude call frudum... smooth transaction sha |
Re: ➜ ➜ ➜Currency/E-currency Market Deals➜ ➜ ➜ by akinswaggs(m): 4:00pm On Nov 27, 2016 |
itunesgiftcard: one chance |
Re: ➜ ➜ ➜Currency/E-currency Market Deals➜ ➜ ➜ by Realconsulx: 4:01pm On Nov 27, 2016 |
$2200 btc sold to@ tolutweety Nice doing business with u. 1 Like 1 Share |
Re: ➜ ➜ ➜Currency/E-currency Market Deals➜ ➜ ➜ by tolutweety(m): 4:01pm On Nov 27, 2016 |
Re: ➜ ➜ ➜Currency/E-currency Market Deals➜ ➜ ➜ by akinswaggs(m): 4:04pm On Nov 27, 2016 |
Tabbaz: Interested |
Re: ➜ ➜ ➜Currency/E-currency Market Deals➜ ➜ ➜ by tolutweety(m): 4:04pm On Nov 27, 2016 |
Realconsulx:Thank you ma'am. cc aleairhub - Gracias !! |
Re: ➜ ➜ ➜Currency/E-currency Market Deals➜ ➜ ➜ by bijouxcutey(f): 4:08pm On Nov 27, 2016 |
frudum:;Dno be wickedness be that oooo.... |
Re: ➜ ➜ ➜Currency/E-currency Market Deals➜ ➜ ➜ by HazzanTazzan(m): 4:09pm On Nov 27, 2016 |
tolutweety: oga which leve na.. na u dem talk say e act faster than me abi.. una no dey pity person? you just pack everthing |
Re: ➜ ➜ ➜Currency/E-currency Market Deals➜ ➜ ➜ by dayooye(m): 4:09pm On Nov 27, 2016 |
$1790 btc available @ 530 firm Call or whatsapp +1404 600 9944 |
Re: ➜ ➜ ➜Currency/E-currency Market Deals➜ ➜ ➜ by lifestyle1(m): 4:12pm On Nov 27, 2016 |
3RNEST: Yet to receive alert though. |
Re: ➜ ➜ ➜Currency/E-currency Market Deals➜ ➜ ➜ by 3RNEST(m): 4:14pm On Nov 27, 2016 |
lifestyle1:Commot jo.. Fear fear... |
Re: ➜ ➜ ➜Currency/E-currency Market Deals➜ ➜ ➜ by AleAirHub(m): 4:22pm On Nov 27, 2016 |
0001. Coded |
Re: ➜ ➜ ➜Currency/E-currency Market Deals➜ ➜ ➜ by stevolinkon40: 4:23pm On Nov 27, 2016 |
stevolinkon40: |
Re: ➜ ➜ ➜Currency/E-currency Market Deals➜ ➜ ➜ by Tabbaz(m): 4:24pm On Nov 27, 2016 |
AleAirHub: Seen |
Re: ➜ ➜ ➜Currency/E-currency Market Deals➜ ➜ ➜ by tolutweety(m): 4:33pm On Nov 27, 2016 |
dayooye: Good buy! A beautiful Sunday to you. |
Re: ➜ ➜ ➜Currency/E-currency Market Deals➜ ➜ ➜ by tolutweety(m): 4:35pm On Nov 27, 2016 |
HazzanTazzan: Baba,no be my fault. No vex |
Re: ➜ ➜ ➜Currency/E-currency Market Deals➜ ➜ ➜ by Singapore1(m): 4:39pm On Nov 27, 2016 |
tolutweety:Who is this one again now lawd 1 Like |
Re: ➜ ➜ ➜Currency/E-currency Market Deals➜ ➜ ➜ by dayooye(m): 4:39pm On Nov 27, 2016 |
Re: ➜ ➜ ➜Currency/E-currency Market Deals➜ ➜ ➜ by U1(m): 4:43pm On Nov 27, 2016 |
Anyway, let's deal if you can pay first and at 455/$ Skrill. Sold to didymario7! 1 Like |
Re: ➜ ➜ ➜Currency/E-currency Market Deals➜ ➜ ➜ by Tabbaz(m): 4:46pm On Nov 27, 2016 |
Re: ➜ ➜ ➜Currency/E-currency Market Deals➜ ➜ ➜ by HazzanTazzan(m): 4:47pm On Nov 27, 2016 |
Singapore1: i just tire for the guy... buying everything buyable and i never see 1$ btc buy today... the guy wicked... |
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