The Central Bank of Nigeria has reviewed down the rate at which it was selling dollars to Bureau De Change operators nationwide.

President, Association of Bureau De Change Operators of Nigeria, Alhaji Aminu Gwadabe, told the News Agency of Nigeria in Lagos on Tuesday that the buying rate for BDCs would now be N350 and would sell at N360 to the dollar.

Before now, BDCs were buying dollars from the CBN at a forward rate of N381 to the dollar and selling at N399 to the dollar.

Gwadabe commended the CBN for heeding the appeal of BDCs for a level playing field for all players in the foreign exchange market.

The ABCON chief pledged the commitment of all BDCs in collaborating with the apex bank to sustain the gains recorded by naira against the dollar.

The CBN, had on Monday, pegged the selling rate for Deposit Money Banks at N360 to the dollar.

The CBN had injected close to two billion dollars since it started its intervention in the foreign exchange market five weeks ago.

Efforts of the apex bank have crashed dollar rates at the parallel market to between N375 in Lagos and N365 in Abuja.

The CBN said it determined to crush speculators in the market and ensure that genuine foreign exchange seekers have access to foreign currencies with ease.

http://investorsking.com/cbn-introduces-new-fx-rate-for-bdcs/

Bdc go soon start to make money again. Our export rate never increase to make money stable wen cbn no get money to pumb into the market. Once e reach 300 I go equip my bitcoin acc they wait 4 the sharp rise .
Every reasonable economics for nairaland understands wat am saying

Thank God that the Naira is rising against the dollar in the parallel market, but Nigerians have made up their mind to kick out Buhari and APC in 2019.... No going back

Good news, keep it up CBN, but don't come up with another story tomorrow o.

NgeneUkwenu, no blame PDP o....

Thank God

Nigerian are quick to increase the price of goods and blame it on increase in dollar rate. Now its dropping and price of things are still high. Are we to blame govt again for that?

TonyeBarcanista:
NgeneUkwenu, no blame PDP o....

NgeneUkwenu:

Na your way na... Una for APC go return to opposition in 2019

tendercharles:
Nigerian are quick to increase the price of goods and blame it on increase in dollar rate. Now its dropping and price of things are still high. Are we to blame govt again for that?

Thing is most of the wares in the market are old stocks

Speculator's nightmare....

TonyeBarcanista:
Thing is most of the wares in the market are old stocks

They will never come down.

That's all

TonyeBarcanista:
Thank God that the Naira is rising against the dollar in the parallel market, but Nigerians have made up their mind to kick out Buhari and APC in 2019.... No going back

Sarrki where are you??

[s]

TonyeBarcanista:
Thank God that the Naira is rising against the dollar in the parallel market, but Nigerians have made up their mind to kick out Buhari and APC in 2019.... No going back

[/s]

Not nigerians. Just an insignificant number of ipob wailers whose noise only ends here on nairaland.
If we conduct elections today, buhari will win over and over again.

Why? You cant buy honesty, integrity or hardwork in the market!

K

Please as the dollar is coming down, our sellers should also bring down prices of goods.


Why do we still buy stuffs the same price when dollar was 510 and now it's about 385?

Nice one, some speculators go sell mansion rent 2 bedroom apartment when d time come... Carry dis cash commot, na for all of us to spend...

blackpanda:
[s][/s]

Not nigerians. Just an insignificant number of ipob wailers whose noise only ends here on nairaland.
If we conduct elections today, buhari will win over and over again.

Why? You cant buy honesty, integrity or hardwork in the market!

Those traits are yet to be seen in the Bulgari administration

nice ... This is a beautiful development ... I can now resume my car import business and take a vacation with my family later in the year

TonyeBarcanista:
Thank God that the Naira is rising against the dollar in the parallel market, but Nigerians have made up their mind to kick out Buhari and APC in 2019.... No going back

Says the mouth piss of Voiceless 5%

Omagago:


Sarrki where are you??

He is in agreement

Take it back to where it was. Very simple.

Two years ago no one would have imagined 1 dollar would be N350.

TonyeBarcanista:
Thank God that the Naira is rising against the dollar in the parallel market, but Nigerians have made up their mind to kick out Buhari and APC in 2019.... No going back

Even if APC is kicked out of Aso rock nobody go mumu vote in useless PDP, PDP worst, if we calculate all the billions PDP claimed they spent on electricity only, by now Nigerians should have forgotten the definition of "1 day on 3days off" Infact which faction of PDP Nigerians wan vote for Makarfi or the okada rider faction?

There may not be a significant change in the rising cost of commodities.

Goodnews. At least, for those of us wey wan fly out.
Let it keep falling Mark!

We are watching...In Bob Marleys voice, time will tell

TonyeBarcanista:
Thank God that the Naira is rising against the dollar in the parallel market, but Nigerians have made up their mind to kick out Buhari and APC in 2019.... No going back

TonyeBarcanista, I take God beg you, do not support APC in 2019.

You supported Obanikoro for Governorship, he lost.
You supported Jonathan, he they flogged him.
you supported Jimi Agbaje, he was beaten like a drum.

You have never taken a successful political step in your life. Every political candidate you support is bound to lose. I doubt if 2019 would be an exception.

G bois wil nt b happy abt dis newss

TonyeBarcanista:
Thank God that the Naira is rising against the dollar in the parallel market, but Nigerians have made up their mind to kick out Buhari and APC in 2019.... No going back

it depends on candidate of opposition party.... because i never see better person from pdp..

Same old political strategy when you have less to offer.

Make things terrible bad then the people complain then bring it back to how it was then they hail you. All this have strategies have been written down in books and we'll get wiser as a people if we read more and learn from history.

As for me things must be better than how it was in the last administration before I hail this administration. My 2kobo.

P. S. This is my 2000th post on Nairaland.

TonyeBarcanista:
Thank God that the Naira is rising against the dollar in the parallel market, but Nigerians have made up their mind to kick out Buhari and APC in 2019.... No going back

Yes, l agree APC is corrupt, kick and vote APC out in 2019, l, President Buhari is tired sef, l prefer to go to Daura to take care of my cows but before l leave , l will steal and loot like former president Jonathan, but l will not steal too much, signed bubu