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How Much Did You Exchange The Dollar For Today? - Business (7) - Nairaland

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Re: How Much Did You Exchange The Dollar For Today? by Nimshi: 8:35am On May 12, 2009
1 USD exchanged for USD181 yesterday in the Ikeja area; this price is for when you sell; there was an exchange for N182.5.

It's no use giving out misleading information here; the N192 figure was misleading.
.
Re: How Much Did You Exchange The Dollar For Today? by Nimshi: 8:45am On May 12, 2009
Tha_dude:

Let the inflation go off the roof and lets know where we are. Those of us who have access to Dollars, pounds and euros, we can then take advantage of the system. The system hasnt paid us its debt, may be this is the way the system intends to pay Nigerians-diaspora.

There's really no joy in this. When inflation hits the roof and breaks through it, and you fx exchanges for more naira, it's only much of a compensation; spending the money in Naija should work out roughly to the same outcome; the fx market and forces of exchange 'protects' the value of your fx; but the real sufferers are those earning money in Naira whose salary increase cannot keep up with the inflation; this class includes most honest, hardworking Nigerians. Of course, the politicians in government are excluded, since they always have ways of padding their fat salaries and allowances. It is impossible to sustain this model for a long time.

This is really sad for 'ordinary' Nigerians.

.
Re: How Much Did You Exchange The Dollar For Today? by BAC: 5:03pm On May 12, 2009
You talk sense my brother. I really pity those hard working honest Nigerians. their salary can never catch up. But the business men will push up prices to still make profit. it will not be easy for them as well though. Fake china products will be the order of the day.


I pity my people ooooo
Re: How Much Did You Exchange The Dollar For Today? by Thadude(m): 5:51pm On May 12, 2009
How we for do?, na tumbolo country we dey.
, if u get visa and ticket, go bank buy $4000 at official price and sell for black market.
Re: How Much Did You Exchange The Dollar For Today? by ichommy(m): 9:32am On May 13, 2009
yesterday at G.T.B ilorin is 147 ( buy) 150 ( sell )
Re: How Much Did You Exchange The Dollar For Today? by abhosts(m): 12:05pm On May 13, 2009
I bought dollar @ N181 Yesterday.
Re: How Much Did You Exchange The Dollar For Today? by BAC: 1:22pm On May 13, 2009
Today's price £ and Euros please
 
Re: How Much Did You Exchange The Dollar For Today? by BOMANY: 10:19am On May 15, 2009
@ Nimshi

Hello, seems you are in exchange business, if yes, pls contact me on
a2z_house@yahoo.com

Thanx
 
Re: How Much Did You Exchange The Dollar For Today? by Thadude(m): 5:03pm On May 19, 2009
You must have to belong to any of the category below:

1. If you are travelling and wanting to purchase a BTA/PTA - International passport , visas, flight ticket under this category you are allowed to purchase up to a maximum of $4,000(PTA) or $5000(BTA). You might not get it immediately you pop into the bank, sometimes the banks might have to bid on your behalf. Say 3 days to a week in most cases.

2. You are a prospective student - and wanting to purchase dollars to pay your school fees - you must show evidence of your offer at the institution and evidence of your qualification to study. (in most cases the bank might offer to send wire the money on ur behalf) So you might not get the dollars physically, but you would be paying your sch. fees at that official exchange rate.

3. You are a business man purchasing dollars for the purpose of importing goods - Evidence of Form 'M', evidence of registered firm, and some other docs the bank might require inline with CBN guildline.

For further info, walk into the bank where you intend to purchase the dollars, request for the forex dept. tell them what you want to do with the dollars and they will inform you on what category you fit in and the required documents to enable you make the purchase.

Most bank staff might tend to be snubbish and give u a "not available answer" but inform them you are not requesting it right a way that you are requesting for a bid tender through them to the CBN.

Any of the following banks are allowed to bid on behalf of purchasing customers

Afribank Nigeria Plc
Diamond Bank Plc
Fidelity Bank Plc
First Bank Nigeria Plc
First Inland Bank Plc
Guaranty Trust Bank Plc
Oceanic Bank Plc
Skye Bank Plc
United Bank for Africa Plc
Union Bank Nigeria Plc
Wema Bank Plc
Zenith Bank Plc
Spring Bank Plc
EcoBank Plc
Re: How Much Did You Exchange The Dollar For Today? by faakay(m): 6:16pm On May 19, 2009
Tha_dude:

You must have to belong to any of the category below:

1. If you are travelling and wanting to purchase a BTA/PTA - International passport , visas, flight ticket under this category you are allowed to purchase up to a maximum of $4,000(PTA) or $5000(BTA). You might not get it immediately you pop into the bank, sometimes the banks might have to bid on your behalf. Say 3 days to a week in most cases.

2. You are a prospective student - and wanting to purchase dollars to pay your school fees - you must show evidence of your offer at the institution and evidence of your qualification to study. (in most cases the bank might offer to send wire the money on ur behalf) So you might not get the dollars physically, but you would be paying your sch. fees at that official exchange rate.

3. You are a business man purchasing dollars for the purpose of importing goods - Evidence of Form 'M', evidence of registered firm, and some other docs the bank might require inline with CBN guildline.

For further info, walk into the bank where you intend to purchase the dollars, request for the forex dept. tell them what you want to do with the dollars and they will inform you on what category you fit in and the required documents to enable you make the purchase.

Most bank staff might tend to be snubbish and give u a "not available answer" but inform them you are not requesting it right a way that you are requesting for a bid tender through them to the CBN.

Any of the following banks are allowed to bid on behalf of purchasing customers

Afribank Nigeria Plc
Diamond Bank Plc
Fidelity Bank Plc
First Bank Nigeria Plc
First Inland Bank Plc
Guaranty Trust Bank Plc
Oceanic Bank Plc
Skye Bank Plc
United Bank for Africa Plc
Union Bank Nigeria Plc
Wema Bank Plc
Zenith Bank Plc
Spring Bank Plc
EcoBank Plc








GREAT INFO!!!!!!!!!!!!!!!!!!!!!!!!! cool
Re: How Much Did You Exchange The Dollar For Today? by concrete: 1:25am On May 20, 2009
any new numbers?? please provide current rates o (market, not bank)

thanks smiley
Re: How Much Did You Exchange The Dollar For Today? by BAC: 2:38pm On May 20, 2009
Please currenct rate for me as well please ooo include ££££. (No Bank rates please)
Re: How Much Did You Exchange The Dollar For Today? by Fhemmmy: 7:36pm On May 20, 2009
Tha_dude:

You must have to belong to any of the category below:

1. If you are travelling and wanting to purchase a BTA/PTA - International passport , visas, flight ticket under this category you are allowed to purchase up to a maximum of $4,000(PTA) or $5000(BTA). You might not get it immediately you pop into the bank, sometimes the banks might have to bid on your behalf. Say 3 days to a week in most cases.

2. You are a prospective student - and wanting to purchase dollars to pay your school fees - you must show evidence of your offer at the institution and evidence of your qualification to study. (in most cases the bank might offer to send wire the money on ur behalf) So you might not get the dollars physically, but you would be paying your sch. fees at that official exchange rate.

3. You are a business man purchasing dollars for the purpose of importing goods - Evidence of Form 'M', evidence of registered firm, and some other docs the bank might require inline with CBN guildline.

For further info, walk into the bank where you intend to purchase the dollars, request for the forex dept. tell them what you want to do with the dollars and they will inform you on what category you fit in and the required documents to enable you make the purchase.

Most bank staff might tend to be snubbish and give u a "not available answer" but inform them you are not requesting it right a way that you are requesting for a bid tender through them to the CBN.

Any of the following banks are allowed to bid on behalf of purchasing customers

Afribank Nigeria Plc
Diamond Bank Plc
Fidelity Bank Plc
First Bank Nigeria Plc
First Inland Bank Plc
Guaranty Trust Bank Plc
Oceanic Bank Plc
Skye Bank Plc
United Bank for Africa Plc
Union Bank Nigeria Plc
Wema Bank Plc
Zenith Bank Plc
Spring Bank Plc
EcoBank Plc


Great info, good job
Re: How Much Did You Exchange The Dollar For Today? by BAC: 10:42am On May 21, 2009
I made a call to Yusuf from the UK as people in Naija are not forth coming on the exchange rates.

To sell :

£ = 272
$ = 179
Re: How Much Did You Exchange The Dollar For Today? by Nimshi: 11:32am On May 21, 2009
USD sold at N180.50 in the Ikeja axis yesterday; this most probably isn't a best price, but all generally below N181.

BAC: of course, N179 isn't far off, but with oil marketers getting back on importation, the naira should fall some.

No definite price for today, but one shouldn't be negotiating for less than N181.

Just to add: the Bureaux de Change rates aren't far off, but slightly lower.

Cheers.
Re: How Much Did You Exchange The Dollar For Today? by BAC: 2:17pm On May 21, 2009
Nimshi:

USD sold at N180.50 in the Ikeja axis yesterday; this most probably isn't a best price, but all generally below N181.

BAC: of course, N179 isn't far off, but with oil marketers getting back on importation, the naira should fall some.

No definite price for today, but one shouldn't be negotiating for less than N181.

Just to add: the Bureaux de Change rates aren't far off, but slightly lower.

Cheers.

Thanks for your view. This place was getting too quiet and those of us abroad need these info regularly.
Re: How Much Did You Exchange The Dollar For Today? by angel72(f): 4:31pm On May 21, 2009
Hi, i'm going to Lagos in august and was wondering if anybody had an idea how the market for the dollar will be then. Will it go down or up? Is it a good idea to change dollars to Naira now because the rates are high at the moment?
Re: How Much Did You Exchange The Dollar For Today? by Nimshi: 5:16pm On May 21, 2009
That's an interesting question. Predicting the future is fraught with difficulties. But, it isn't an impossible task - in this context - within a reasonable margin of error.

The official rate of exchange has varied somewhere between 140 and 154 this year; you could almost track that with oil price movements and the variation amongst major currencies (USD, EURO, GBP); there's data available for these, but seldom do we have the market & Bureaux de Change (BDC) data in a systematic way. . .

Here's a rule-of-thumb I've found useful: we know the market rate got a ceiling of about N190, and is currently hovering around N180, which appears 'stable' based on current realities; one could plan with that: watch the trend as things are, have an "exit" point, and hopefully, you won't have to be stuck when you actually need the money. If you want to dig dirty, use a resource like: http://forecasts.org/pound.htm along with oil price data and current market/BDC rates to get a feel.

It's not much science, and: caveat emptor.
.
Re: How Much Did You Exchange The Dollar For Today? by angel72(f): 5:51pm On May 21, 2009
Thanks Nimshi,

i had in mind already that it will go down, so i was thinking that i would exchange half the money i want to use already next month and will change the rest when i get down there,
Re: How Much Did You Exchange The Dollar For Today? by Thadude(m): 6:15pm On May 21, 2009
lol, see planin'
Re: How Much Did You Exchange The Dollar For Today? by Chrisbenogor(m): 10:01am On May 22, 2009
@Nimshi
Its been a long time I saw you at the religion section don't tell me davidylan pissed you off cheesy
Any ways I need some info on trading the dollar locally, I have been dabbling into the spot fx market for some time now and I am still not really comfortable with it. So if you have got useful info for me do well to let me know bro.
Cheers.
Re: How Much Did You Exchange The Dollar For Today? by Utali(m): 7:10pm On May 22, 2009
Folks what's the topics again? ' How Much Did You Exchange The Dollar For Today'?

I changed 200 Naira shocked
Re: How Much Did You Exchange The Dollar For Today? by JJYOU: 7:19pm On May 22, 2009
angel72:

Hi, i'm going to Lagos in august and was wondering if anybody had an idea how the market for the dollar will be then. Will it go down or up? Is it a good idea to change dollars to Naira now because the rates are high at the moment?
always a good idea to exchange at higher rate as it is now.
Re: How Much Did You Exchange The Dollar For Today? by Nimshi: 9:17pm On May 22, 2009
angel72:

Thanks Nimshi,

i had in mind already that it will go down, so i was thinking that i would exchange half the money i want to use already next month and will change the rest when i get down there,

This isn't a bad strategy if you'll be needing the Naira in August. . .

.
Re: How Much Did You Exchange The Dollar For Today? by Nimshi: 9:23pm On May 22, 2009
Chrisbenogor:

@Nimshi
Its been a long time I saw you at the religion section don't tell me davidylan pissed you off cheesy
Any ways I need some info on trading the dollar locally, I have been dabbling into the spot fx market for some time now and I am still not really comfortable with it. So if you have got useful info for me do well to let me know bro.
Cheers.

Hi Chris!

Long time!

David, he ain't a very bad guy, cheesy

Got tired some. . . too little time . . . gotta tackle the recession and keep afloat;

On fx: will be glad to be useful in any way; you could shoot me a PM; we all need all the help we could get, and "we" includes your humble servant too. . .

Cheers.

.
Re: How Much Did You Exchange The Dollar For Today? by arogbowei: 10:55pm On May 22, 2009
As at 3.15 pm this evening at the International Trade Fair Complex, Lagos Badagry Express Way, we exchanged @182.

Only God knows when Naira will appreciate, or experience re denomination
Re: How Much Did You Exchange The Dollar For Today? by angel72(f): 7:22pm On May 26, 2009
only 170 today in Ikeja undecided
Re: How Much Did You Exchange The Dollar For Today? by nduchucks: 11:56am On May 27, 2009
N168 Today for Abuja. Mallam tell me say e go drop more. e be like say CBN go soon release dollars for bureau de change dem.
Re: How Much Did You Exchange The Dollar For Today? by dvonne(f): 1:07pm On May 27, 2009
Oba a so ro ma ye , thank you lord!

up up naira
Re: How Much Did You Exchange The Dollar For Today? by Nimshi: 4:03pm On May 27, 2009
Yeah, up, up Naira.

But, that's mostly because: "up, up, Oil Price". And, of course, that's because: "Up, Up, Niger Delta"

Just so we put it all in context. The same lazy/crazy Nigerian government is busy decimating the Niger Delta: its peoples and the the land. Ok, enough.

Today in the Ikeja area, you would get N167 for your dollar. This is 'fantastic', considering the price last week or so.

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