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How Much Did You Exchange The Dollar For Today? - Business (65) - Nairaland

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Re: How Much Did You Exchange The Dollar For Today? by group507(m): 7:10pm On Sep 19, 2011
Fhemmmy

He did the exchange at Alaba Market - at the rate of N158 to USD this morning
Re: How Much Did You Exchange The Dollar For Today? by Fhemmmy: 7:17pm On Sep 19, 2011
group507:

Fhemmmy

He did the exchange at Alaba Market - at the rate of N158 to USD this morning

You are a great person . . . God bless you
Re: How Much Did You Exchange The Dollar For Today? by Jcob(m): 8:52pm On Sep 19, 2011
159 at parallel
Re: How Much Did You Exchange The Dollar For Today? by Fhemmmy: 2:26pm On Sep 21, 2011
Thanks for all the info, guys
Re: How Much Did You Exchange The Dollar For Today? by egin(m): 1:55am On Sep 22, 2011
Naira depreciates to lowest level in two years


The naira on Wednesday fell to its lowest level in over two years against the United States’ dollar.



This, according to foreign exchange dealers, is as a result of the continued inability of the Central Bank of Nigeria to meet the demand for the dollar; a development which they said had stretched for straight 21 days.



At the inter-bank market, the naira closed at N157.92 to the dollar, down from Tuesday’s figure of N157.20. Traders told Reuters that the current position of the naira was its weakest since August 14, 2009, when it hit N158 per dollar.



Out of $560.54m requested for by dealers at the official window on Wednesday, the apex bank only sold $350m at N154.42 to the dollar. The CBN had the preceding day sold $350m at N153.91 as against $467.6m demanded by dealers.



“The initiatives taken by the CBN both in raising MPR and other measures of tightening our fiscal policy may mean well but are telling on the forex market,” the Managing Director and Chief Executive Officer, Atlass Portfolios Limited, Mr. Ubale Yahaya, told our correspondent.



“The naira for some time now has persistently fallen against the dollar and this is not good for our currency.”



The CBN, among its other reforms, had on Monday raised the Monetary Policy Rate by 50 basis points from 8.75 to 9.25 per cent.



Meanwhile, traders stressed that the pressure on the naira was largely due to the actions of the regulatory bank, as they argued that the apex financial institution had over time refused to meet the demands of dealers.



“The central bank has consistently allowed the depreciation of the naira at its auction in past months and with a large inventory of unmet demand, putting further pressure on the available dollar stocks at the inter-bank market,” a dealer told Reuters.



According to traders, the inter-bank market usually takes a cue from the trends at the bi-weekly foreign exchange auction.



They however, noted that local unit of US energy firm, Exxon Mobil, sold about $50m to selected banks, but it was not enough to provide support for the naira.



The traders expressed worries that the local currency might continue its downward plunge if the apex bank failed to intervene.



“The naira is going to continue to experience steady depreciation until the end of the year as long as there is strong demand and the CBN fails to meet market expectations,” another trader, who pleaded anonymity said.

http://www.punchng.com/Articl.aspx?theartic=Art20110922322340
Re: How Much Did You Exchange The Dollar For Today? by Seun(m): 10:44pm On Sep 23, 2011
What is the current black market rate? Could it be that the two rates are converging?
Re: How Much Did You Exchange The Dollar For Today? by stagger: 7:58am On Sep 24, 2011
^^^^^^^

It certainly looks like it is converging, or should we say that the parallel market is dragging the official rate down with it.
Re: How Much Did You Exchange The Dollar For Today? by Fhemmmy: 1:59pm On Sep 26, 2011
stagger:

^^^^^^^

It certainly looks like it is converging, or should we say that the parallel market is dragging the official rate down with it.

I am not sure that would be allowed in Nigeria . . . .I am sure they will correct that this week.
Re: How Much Did You Exchange The Dollar For Today? by fidelprud: 7:53am On Sep 27, 2011
Hi guys any ideal how much the dollars changed for yesterday?
 
Re: How Much Did You Exchange The Dollar For Today? by Fhemmmy: 6:36pm On Sep 28, 2011
Keep the rate coming people, some of us use it for business quotes . . . Thanks
 
Re: How Much Did You Exchange The Dollar For Today? by Fhemmmy: 2:38pm On Sep 29, 2011
I heard the rate is going up again . . . . .
Re: How Much Did You Exchange The Dollar For Today? by babaogun(m): 7:33am On Sep 30, 2011
I was quoted N161 in Victoria Island, Lagos yesterday, However, i will update when i actually purchase today. cry
Re: How Much Did You Exchange The Dollar For Today? by fidelprud: 9:12am On Sep 30, 2011
Thanks @ babaogun,waiting for more update.
Re: How Much Did You Exchange The Dollar For Today? by Fhemmmy: 1:52pm On Sep 30, 2011
babaogun:

I was quoted N161 in Victoria Island, Lagos yesterday, However, i will update when i actually purchase today. cry

That was the same price that my Partner got it yesterday . . .so sad that it is upward marching again
Re: How Much Did You Exchange The Dollar For Today? by babaogun(m): 2:07pm On Sep 30, 2011
I got it 161 today in Lagos. Some guys were selling 162. However, I could have done 159 with a licensed bureau de change but location is Ibadan and it would have been long thing paying into my account and me withdrawing. I also heard CBN didnt sell on wednesday, but they sold today.
Re: How Much Did You Exchange The Dollar For Today? by Fhemmmy: 5:57pm On Sep 30, 2011
babaogun:

I got it 161 today in Lagos. Some guys were selling 162. However, I could have done 159 with a licensed bureau de change but location is Ibadan and it would have been long thing paying into my account and me withdrawing. I also heard CBN didnt sell on wednesday, but they sold today.

Hope things will settle down soon and the price will be better
Re: How Much Did You Exchange The Dollar For Today? by BOMANY: 3:36pm On Oct 01, 2011
When CBN sells 153s and the Interbanks price is 156s then we should nt expect less than 160s for black market. Unfortunately, I feel that the worse still coming, we are heading to Xmass period. In 2008, in the same period Naira just collapsed from 118 to 135 to 150s, 160s, 170s, 180s before it was brought back to 150s
I am praying God that my fears will nt come true, Ameen
embarassed embarassed cry
Re: How Much Did You Exchange The Dollar For Today? by Fhemmmy: 2:35am On Oct 02, 2011
^^^ Amen ohhhhhhhhhhh
Re: How Much Did You Exchange The Dollar For Today? by Fhemmmy: 2:55pm On Oct 03, 2011
Current rate please . . . .
Re: How Much Did You Exchange The Dollar For Today? by Fhemmmy: 2:32am On Oct 04, 2011
Anyone with meaningful updates please
Re: How Much Did You Exchange The Dollar For Today? by Fhemmmy: 2:27pm On Oct 04, 2011
No info still?
Re: How Much Did You Exchange The Dollar For Today? by jamest3(m): 8:07pm On Oct 04, 2011
I just called the man who converts in Zaria (Kaduna) and he said it's now 160 cry
Re: How Much Did You Exchange The Dollar For Today? by spicyc: 11:18pm On Oct 04, 2011
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Re: How Much Did You Exchange The Dollar For Today? by Fhemmmy: 2:27am On Oct 06, 2011
Rates plssss?
Re: How Much Did You Exchange The Dollar For Today? by dangiwa09(m): 1:46pm On Oct 06, 2011
Fhemmmy:

Rates plssss?

@Fhemmy

This your "Rates plssss, Rates plssss" every hour is turning into madness o! Even proffesional currency traders no dey check rates this much.
Re: How Much Did You Exchange The Dollar For Today? by group507(m): 1:57pm On Oct 06, 2011
Good Morning !!!

Any ideal of the currently USD Black Mkt rate, in Lagos and Abuja??
Re: How Much Did You Exchange The Dollar For Today? by group507(m): 2:05pm On Oct 06, 2011
dangiwa09 (m)
Posts: 55

Dangiwa, you appear to be a very frustrated individual. No person is asking why you were checking the thread in the first place.

Please stop embarrassing yourself ,

No point for you to reply
Re: How Much Did You Exchange The Dollar For Today? by RMU: 2:56pm On Oct 06, 2011
Please how much is the CFA to naira as at today
Re: How Much Did You Exchange The Dollar For Today? by Fhemmmy: 1:07am On Oct 07, 2011
dangiwa09:

@Fhemmy

This your "Rates plssss, Rates plssss" every hour is turning into madness o! Even proffesional currency traders no dey check rates this much.

I cant be rude as you . . .So thanks.
While i am doing my own thing, keep following me around , , , , For your info, i am a man and not a woman, just in case you looking for someone to love . . . but thanks for paying attention to my comment anyways, so if you know the rate, you could send it to me.
Or i could actually give you a job to be checking the rate and be sending it to me on a regularly basis, but make sure you check regularly, cos it is never constant and since i need it to give quote to reliable and potential clients.
lemme know if you are interested
Re: How Much Did You Exchange The Dollar For Today? by sholatech(m): 1:49am On Oct 07, 2011
For those who dont know like Danguwa,Many of us rely on this page everyday for business dealings in Foreign Exchange, Fhemmy, keep asking!!

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