Goshiii:


Please what is a BDC operator?

BDC(Bureau d Change) Operator is one who is licensed by the CBN to trade on foreign Currency in relation to the Naira

Goshiii:


Please what is a BDC operator?

Bureau De Change Operator......The guys (sometimes malams) that changes money

coderXO:


We will assist our local industries when? Tomorrow Wednesday 25th? To start producing all the imported goods we consuming abi?
Just like increasing the auto import tariff to discourage vehicles import. When last did you buy an innoson truck for N5.7m cash?

We are a consumer economy period.
We produce absolutely nothing and have to import.

These $$$ are needed for the imports.

Your Naira that you spend is converted by Nigerian businesses to $$$ to bring goods in.

Your Naira is always eventually dollars, and now they have to use more Naira to buy the same amount of dollars.

It means when the goods land, you will pay more of that Naira in the end to buy the goods.

Naira has lost 20% of its value in the last 3 months and I bet you didn't get a 5% raise at your job since December did you?


Only time will tell. God help us all.

Interesting. We blew $1bn in 12 days trying to 'defend the naira'. There was no much success with that move. At that rate it would take less than a year to blow through our entire reserves. Then what? Nigeria would be broke and the naira would still depreciate. Anybody with a small army could then easily take over the government and we would basically have no resources to fight. Do you honestly see any sense in this strategy?

Belewu:


Interesting. We blew $1bn in 12 days trying to 'defend the naira'. There was no much success with that move. At that rate it would take less than a year to blow through our entire reserves. Then what? Nigeria would be broke and the naira would still depreciate. Anybody with a small army could then easily take over the government and we would basically have no resources to fight. Do you honestly see any sense in this strategy?

You have any other solution to the daily 0.5% value loss we are currently experiencing?

coderXO:



You have any other solution to the daily 0.5% value loss we are currently experiencing?

Simple. Allow the naira find its 'true' value. At that poimt the demand for foreign currency will stabilize. What you see right now is a quasi demand which will slowly wither away

How much did You exchange the Naira (₦) to Pound Sterling (£) today? BDC and or Black Market rate pls.

£1 = N319.5

GT Bank at cash machine at 0800 today

I sold usd for 215 today

adewasco2k:
I sold usd for 215 today

can i get $ from you?

How much is dollar exchanging for today.... Black market price o

Buying USD: 221
Selling USD: 219

At Sheraton Abuja today.

stagger:
Buying USD: 221
Selling USD: 219

At Sheraton Abuja today.

What about GBP?

£1 = N321

GT Bank at cash machine at 0800 this morning

pappilo:
£1 = N321

GT Bank at cash machine at 0800 this morning

Thanks. Are you actually able to buy at this rate from GT Bank?

Rema2311:


Thanks. Are you actually able to buy at this rate from GT Bank?

Not sure.

But you dont necessarilly need to buy forex in Nigeria if you will be using the money personally abroad. You can withdraw a maximum of £800 from cash machines in the UK. There will be a N420 charge for every withdrawal.

£1 = N321.5

GT Bank at cash machine at 0800 this morning

sdbaba:
How much is dollar exchanging for today.... Black market price o

buying at 223
selling at 220 at benin ring road

bedfordng:
buying at 223
selling at 220 at benin ring road

What about pounds sterling (£)?

@ Belewu:

Simple. Allow the naira find its 'true' value. At that poimt the demand for foreign currency will stabilize. What you see right now is a quasi demand which will slowly wither away

Nice one. Aside that, upholding the exchange rate of the Naira through this measure is not sustainable. Further, Nigeria does not have the resources to finance such. You already see that the CBN is stepping down on this process.

N206/$1 this morning with my gtb naira master card, bought something online

jerikoyan:
N206/$1 this morning with my gtb naira master card, bought something online

Thanks for sharing

jerikoyan:
N206/$1 this morning with my gtb naira master card, bought something online

wow. And the same gtb charged me 208 yesterday

Eyah sorry,

IyawoToBe:
wow. And the same gtb charged me 208 yesterday

Charged 314.6 to £1 diamond bank atm withdrawal in uk...didnt see any 420 naira charge pertransacrion unless it was built in.

£1 = N318.5

0800 Tuesday 3 March

pls how much USD on ATM abroad ?

pappilo:
£1 = N318.5

0800 Tuesday 3 March

Thanks for your update.

Pls what's dollar current rates as at today o