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Why Is Gtb Foreign Exchange Rate For Card Transaction Higher Than Black Market?? - Business - Nairaland

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Why Is Gtb Foreign Exchange Rate For Card Transaction Higher Than Black Market?? by idojo1: 4:35pm On Jun 12, 2017
I REALLY DON'T GET WHY GTB'S EXCHANGE RATE IS SO MUCH HIGHER THAN THE BLACK MARKET PRICE!

WHEN THE BLACK MARKET RATE WAS ABOVE NGN400 TO THE DOLLAR, GTB WAS OFFERING NGN320 PER DOLLAR FOR INTERNATIONAL CARD TRANSACTIONS.

NOW, THE DOLLAR HAS FALLEN TO LESS THAN NGN370 AND GTB IS CHARGING ALMOST NGN400 PER DOLLAR!!! . EVEN OTHER BANKS DO NOT CHARGE SO MUCH (EVEN THOUGH NON OF THEM CHARGE CLOSE TO OR LESS THAN BLACK MARKET RATES).

EES NOT MAKING SENSE!!! IS THERE A LOGICAL REASON WHY THIS IS SO? WHYYYYYYYYYY!!!!!

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