FX Upsurge, Can We Ban Bdcs? - Business - Nairaland
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CBN Reports Upsurge In Dollar Inflow / CBN Lifts Ban On BDCs, Introduces New Operational Mechanism / Naira Falls After CBN Stops Forex Sales To BDCs (2) (3) (4)
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| FX Upsurge, Can We Ban Bdcs? by olaNL: 8:10am On Sep 16, 2021 |
This is just a layman's thought. With the persistent increase of fx in the parallel market, I am thinking that we should just do away with bdcs and street trading of FX. Whoever wants to use FX for foreign transaction should do it through dormitory account or directly through savings accounts (for smaller transactions). Cash Fx-naira conversion can be done in any bank branch while cash naira-FX conversation should only be done at international entry points like airports and boarders. Cash hoarding of FX should be an economic crime. |
| Re: FX Upsurge, Can We Ban Bdcs? by Howmon: 4:16pm On Sep 16, 2021 |
How do you intend getting cash into your dorm account by the way? |
| Re: FX Upsurge, Can We Ban Bdcs? by olaNL: 4:21pm On Sep 16, 2021 |
Howmon: If you fx cash, you will just deposit it the same way you do any regular deposit. Or you can transfer from your other naira accounts in to your dorm account at the official exchange rate. You should also be able to receive international payment directly into your dorm account. |
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