Ymodulus:
The $300 only affect withdrawals on foreign countries. It does not affect online payment or POS.


Call your bank customer care to confirm. Am extra sure 4000% sure

Ymodulus:
The $300 only affect withdrawals on foreign countries. It does not affect online payment or POS.


Call your bank customer care to confirm. Am extra sure 4000% sure

yemi2plus:


However, in view of the increased difficulty in sourcing foreign currency to settle international transactions on Naira MasterCards, we have reduced the DAILY international spending limit on your Naira MasterCard to $300. This means that you can only spend up to $300 daily when using your GTBank Naira MasterCard for international payments via POS and online.

989900:


Sh!.t just got insane!

Are these not borderline illegal?

I've sent them so many mails, right now GTB's card services email account is full; cant receive new mail.

We need to do something.

If exchange rates were any better, then I'd understand the sacrifice . . . my faith in them making that happen is dim as it is.

989900:
Thank you for contacting Guaranty Trust Bank's Cardservices.

We are in receipt of your mail and we sincerely empathize with you on the inconvenience you may have experienced.

Please be informed that we have just been notified today 10/08/2015 that you are now eligible to make a $10,000 monthly POS/Online transaction; such that you can decide to initiate a $10,000 transaction in a day-which automatically means you have exhausted your monthly limit, this was updated after the initial circular sent during the weekend.

Please note that your daily ATM withdrawal limit is still $300 and its not included in the $10,000 POS/Online monthly limit, likewise your annual limit still remains $50,000 respectively.

Once again we apologize for any inconvenience this may have caused you.

Thank you for banking with us.

kennyman2000:



Gtbank is confused...

bizzle2:
swear down

kennyman2000:



Gtbank is confused...

Jeffy1206:
still waiting for the refund... Will definitely update.

tonjeola:
stanbic refund me @199, when I was debited @207, they ve called me 2ce now, they are going to call again. They will not rest until they refunded the bal

Zface:
lolz... They cant refund u @ d rate of 207

tonjeola:
I know, but @206 or 206.5

Zface:
u shld thank them if they refund u at 203. Those banks has buying and selling rate.

abbeyforex:
Updated Aug. 11, 2015 7:10 a.m. Nigerian Time

BEIJING—China’s central bank(PBOC) devalued its tightly controlled currency, causing its biggest one-day loss in two decades, as the world’s second-largest economy continues to sputter.

Chinese authorities said the change would help drive the currency toward more market-driven movements. The move also signaled the government’s growing worry about slow growth. A shift toward a weaker currency could help flagging exports at a time when many other efforts to boost the economy haven’t proven very effective.

China’s yuan(RMB) has been on an upward track for a decade, during which the country’s economy grew to be the second largest in the world and the currency gained importance globally. The devaluation Tuesday was the most significant downward adjustment to the yuan since 1994, when as part of a break from Communist state planning, Beijing let the currency fall by one-third.

Effect to we Importers :

As a currency becomes cheaper versus other currencies, it becomes more attractive for investors to buy it because they can often take a long (wait for the price to increase) position and make money that way. It also gives more incentive for investors/creditors to invest in large projects that are happening within an economy. Products that are created in a china become more attractive because of their price. Products now become lesser if one takes solely relative purchasing power into account.

One historical example of keeping a currency artificially cheap is China keeping the Renminbi cheap and pegged to the dollar. They wanted consumers/companies from abroad to buy their products so their businesses could continue to grow. This is one reason why China saw a booming economy in export industry. Many Western companies chose to have their products sourced from China because they knew they would get a good exchange rate, thus making the product cheaper. By keeping the Renminbi cheap, China was able to promote trade and begin to help their struggling economy. They have only recently begun to take away some of their instruments that artificially keep the prices low.

989900:


1. Has the Renminbi depriciated almost 100% as the Naira in the past 7years?

2. Do we have a multi trillion dollar export economy like China?

Hell, we don't even have stable power supply, access to loans, infrastructure, anything resembling an enabling environment -- we can't even refine our own fuel -- we spend trillion of Naira importing refined products and you think devaluing like China will work for Nigeria?

abbeyforex:


I did not make all this point you listed above. Check well,I only updated the latest information about the PBOC and its effect on RMB.I repeat check well.

flyuche:
Fidelity bank, $1 = #228

Mizzzbeee:
Why isn't the front page updated That is the essence of this group... Now no difference btw the last group and this one

Dieumerci:

The only difference is that the order thread is richer than this one, in terms of information.
They were too quick to condem the order thread as if they have something better.

cc: dragnet

alakara:
Due to popular demand, the thread is created to
monitor the forex rates of the following
currencies:
USD =US Dollars $;
CNY =Chinese Yuan ¥;
AED =UAE Dirham D;
GBP= Pound £
Euro €.
The format below should be used:
Bank : Currency : Rate : Date : Nairalander



STANBICIBTC: USD: #207 AUG 3 : TYCONCEPT
DIAMOND : USD : #215: AUG 5 : benebaby77
GTB: USD : #225: AUG 3: EGHOSA 1
ACCESS: USD:#225: AUG3: ifyalways
FCMB: USD: #227 AUG 4 : stPete
FIDELITY: USD: #228: AUG 11: flyuche.
Zenith: USD: #229: AUG3: BOBO65
UBA: USD : #234.1 : AUG 11 : opeyemi5
UNION: USD: #239.33: AUG 5 : arbitrage


STANBICIBTC: ¥ :#34.6: AUG 3: KODILICh
STANBICIBTC : £: #332.42: AUG 6: MODATH

Thanks as you update this thread.