Dollar Not Selling At ₦1,000/$1 - BDCs Debunk Viral Post - Business (3)

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Dollar Not Selling At ₦1,000/$1 - BDCs Debunk Viral Post - Business (3) - Nairaland

Nairaland Forum / Nairaland / General / Business / Dollar Not Selling At ₦1,000/$1 - BDCs Debunk Viral Post (28744 Views)

CBN Sells Dollars To BDCs Below Market Rate At ₦‎1,101/$1 / 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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Re: Dollar Not Selling At ₦1,000/$1 - BDCs Debunk Viral Post by israelmao(m): 9:24pm On Mar 27

APC is running economy of propaganda.Your propaganda can't force down dollar to $1/N216 that it used to be before your miserable years of governance started.APC promised to tackle corruption but rather it went like wildfire.It promised to tackle insecurity but rather it escalated to astronomical level.APC is more wicked than the devil himself,they keep all sumptuous meals around them while they appeal to the hungry to be patient that there's light at the end of the tunnel.

2 Likes 1 Share

Re: Dollar Not Selling At ₦1,000/$1 - BDCs Debunk Viral Post by HateBigots: 9:25pm On Mar 27

Paraman:
You can use this news hold body small because you're not happy the naira is not trading at 3000/$.

Zom.... Cover your face in shame

3 Likes 1 Share

Re: Dollar Not Selling At ₦1,000/$1 - BDCs Debunk Viral Post by 7lives: 9:29pm On Mar 27

Johnjustice:
Are you angry that you unpatriotic hoarders and speculators will soon be out of business?

Will soon or are already out of business.
The speculators needs to cut their losses now.
I know most of them will be waiting for price to go up, it's just a pity.
The macro indicators favours naira at the moment.
I wrote about this in February,

3 Likes

Re: Dollar Not Selling At ₦1,000/$1 - BDCs Debunk Viral Post by olowolekan(m): 9:30pm On Mar 27

AMI3:

It doesn't work that way.
If u bought goods when dollar was at increased will u sell lower because dollar has fallen or u will sell to make gain.

Before prices of goods can be reduced it takes awhile because people need to sell their old stock.

However if the price of a commodity increases,they won't hesitate to increase it . The issue is the regulatory bodies aren't working again

2 Likes

Re: Dollar Not Selling At ₦1,000/$1 - BDCs Debunk Viral Post by VeevoH: 9:31pm On Mar 27

Wow wow wow

Re: Dollar Not Selling At ₦1,000/$1 - BDCs Debunk Viral Post by Treadway: 9:34pm On Mar 27

ivolt:

You only incur a loss if you are a trader or speculator.
If you are an FX earner, nothing changes.

na so

Also, loss and profit is a function of decision/choice really.

Mr A bought BTC at 30k and watched it drop to 17k for a year. He eventually got tired, sold it at 17k and grieved his 13k loss..
Mr B bought BTC at same 30k, watched it drop to 17k but stuck to his guns that it will still rise, and boom BTC hit 70k in the second year.

Mr B is at a car lot splurging 30k on a 2017 GLE and still has 40k USD to play with.

Mr A and Mr B's loss and gain were both a matter of choice.

End of story.

DYOR, make a decision, stick to your guns. You can't play this game it you're fickle. Simple as that!

1 Like

Re: Dollar Not Selling At ₦1,000/$1 - BDCs Debunk Viral Post by LeoMaxtalk: 9:35pm On Mar 27

LEGIT

Re: Dollar Not Selling At ₦1,000/$1 - BDCs Debunk Viral Post by stampo: 9:38pm On Mar 27

With my speculation, it's only a true fact that the Naira will continue to gain more and in few days time go below 1000/USD.

3 Likes 1 Share

Re: Dollar Not Selling At ₦1,000/$1 - BDCs Debunk Viral Post by grandstar(m): 9:40pm On Mar 27

Dvdpity:

Nigerian consumer protection council ain't doing their work. They should all be sacked. This is what developing countries do, by setting a price range for various goods and services on prevailing economic conditions and developments

So if you imported goods of $5,000 and bought the dollars at the rate of 1,900 which totals 9.5m, you will now sell it at 1,300 because the rate is dropping? Of course you will first dispose of it at the 1,900 rate.

If you now purchase new stock at the 1,300 rate., you can now dispose your wares at the 1,300 rate.

It will take time for prices to drop. Some may even sell at huge losses.

Never Be so quick to judge. It is such judgmental spirit thar blinds one from seeing things as they are.

7 Likes 4 Shares

Re: Dollar Not Selling At ₦1,000/$1 - BDCs Debunk Viral Post by Geovanni412(m): 9:40pm On Mar 27

Dvdpity:

Nigerian consumer protection council ain't doing their work. They should all be sacked. This is what developing countries do, by setting a price range for various goods and services on prevailing economic conditions and developments

And importers of vital products should all lose money in the name of price control

Is it their fault that naira was fluctuating upandan?

2 Likes

Re: Dollar Not Selling At ₦1,000/$1 - BDCs Debunk Viral Post by pacespot(m): 9:40pm On Mar 27

Some good-for-nothing APC slaves are already attributing recent Naira strengthening against Dollar to Tinubu economy acumen.

This is how they will use fake news to destroy this seemingly temporary upward adjustment of Naira against Dollar without any appreciable gains to Nigerian consumers in the end.

2 Likes

Re: Dollar Not Selling At ₦1,000/$1 - BDCs Debunk Viral Post by mipeesoft(m): 9:40pm On Mar 27

socialmediaman:
Propaganda is the hallmark of this government!

If after lying to you for 8 years that Buhari was doing well, they came back again claiming that Tinubu was cleaning up Buhari’s mess, and you still believe anything from them without demanding to see the evidence, just go and collect your award, you’re a certified zombie

End of Story!

Re: Dollar Not Selling At ₦1,000/$1 - BDCs Debunk Viral Post by mipeesoft(m): 9:41pm On Mar 27

socialmediaman:
Propaganda is the hallmark of this government!

If after lying to you for 8 years that Buhari was doing well, they came back again claiming that Tinubu was cleaning up Buhari’s mess, and you still believe anything from them without demanding to see the evidence, just go and collect your award, you’re a certified zombie

End of Story!

Re: Dollar Not Selling At ₦1,000/$1 - BDCs Debunk Viral Post by SirLakes: 9:41pm On Mar 27

Na APC online miscreants dey post propaganda wey the admin of their WhatsApp group tell them to post everywhere grin

2 Likes

Re: Dollar Not Selling At ₦1,000/$1 - BDCs Debunk Viral Post by stampo: 9:42pm On Mar 27

AcadaWriter:
Dollar is dropping. Why are prices not dropping?

Price of commodities will not fall automatically, this is because the dollar needs to be stable over a period for market forces to have a strong projection.

Secondly, old stock clearance for effective profit margin.

Once there is a fair balance, price of commodities will start to nosedive...

Thirdly, we go use VAWULENCE bring am down.

Re: Dollar Not Selling At ₦1,000/$1 - BDCs Debunk Viral Post by MemoriesAndMe: 9:43pm On Mar 27

Omihanifa:
How can any sensible person believe dollar is selling for 1000 naira at the parallel market when CBN is selling to them at the rate of 1251

Ask yourself if the BDC guys are in business for profit or loss

Person buy something at the rate of 1251, will he now sell it at 1k ?

Correct!
It affects importers too. Why would someone that got dollars at N1500 when he imported items into Nigeria suddenly start selling the items at an equivalent of about N1000 after paying logistics and huge custom fees?

1 Like

Re: Dollar Not Selling At ₦1,000/$1 - BDCs Debunk Viral Post by Heffalump(m): 9:48pm On Mar 27

APC Eeeediots feasting on lies and propaganda to hide their shame undecided

2 Likes

Re: Dollar Not Selling At ₦1,000/$1 - BDCs Debunk Viral Post by SpatialKing(m): 9:49pm On Mar 27

Government based on propaganda n lies

2 Likes

Re: Dollar Not Selling At ₦1,000/$1 - BDCs Debunk Viral Post by Bazztadewu: 9:50pm On Mar 27

Per liter.fuel

ArcSEMPECJ:

Pls am interested in this statement......

You mean you got 1kg gas @ #670 or what pls

Re: Dollar Not Selling At ₦1,000/$1 - BDCs Debunk Viral Post by SPAMBOX7: 9:51pm On Mar 27

Natbrowny:

Until droppings becomes consistent for a period of time

But if he rise today prices of goods go increase immediately. And not wait till the rising is consistent huh

I pity who dey pity traders for this country. Everyone deserves what they are getting Las las

2 Likes

Re: Dollar Not Selling At ₦1,000/$1 - BDCs Debunk Viral Post by Kloenboi: 9:53pm On Mar 27

JohnAOne:
I immediately changed £1280.20 (about $1689.80) on Monday when CBN was selling to BDC at 1251.

$ was 1443.18 when I changed, now $ is about 1300.

If I didn't act, I would have lost more than 150k

Dem no dey tell person!

If you like (at this point in time ⏳) continue to hoard...

What app is this?

Re: Dollar Not Selling At ₦1,000/$1 - BDCs Debunk Viral Post by ValarDoharis: 9:55pm On Mar 27

Una nor dey tire for excuses? Tinubu has wrecked the economy

lastkingsman:

Why would prices drop?

This dollar rate needs to be sustain for 6 weeks+ before price start dropping.

Import did imports and sold it previous rate and you want vendors/traders to take the loss?

1 Like

Re: Dollar Not Selling At ₦1,000/$1 - BDCs Debunk Viral Post by Niok: 9:57pm On Mar 27

ednut1:
vendors had not restocked but they immediately increased price for old stock. Now it has reduced they should reduce too

are you daft why them no go increase price for old stock
Abi na your papa money dem go use buy the new stock

2 Likes

Re: Dollar Not Selling At ₦1,000/$1 - BDCs Debunk Viral Post by martineverest(m): 10:10pm On Mar 27

SoNature:

People need to offload their old stocks purchased at high prices before new prices can reflect. I hope this gain of naira is sustainable.

but when dollar was increasing astronomicallly ,they astronomicallly increased the prices of old stocks

Re: Dollar Not Selling At ₦1,000/$1 - BDCs Debunk Viral Post by airsaylongcome: 10:28pm On Mar 27

lastkingsman:

Why would prices drop?

This dollar rate needs to be sustain for 6 weeks+ before price start dropping.

Import did imports and sold it previous rate and you want vendors/traders to take the loss?

This argument traders make is one of the most hilarious.

Did dollar hold its increase for 6+weeks before traders rushed to increase their prices? When they had stock at old rates, did they wait to sell it out at the rate they bought before rushing to increase prices?

1 Like

Re: Dollar Not Selling At ₦1,000/$1 - BDCs Debunk Viral Post by tnerro1(m): 10:29pm On Mar 27

ednut1:
Dollar is dropping. Why are prices not dropping?

The dropping of the dollars is artificial, it is not based on market forces. The CBN sells at 1,250 to BDC and tells them they must not sell above a certain price. The day the CBN has a dollar scarcity, the price will shoot up. Just say the CBN is subsidizing the dollar for now.

3 Likes

Re: Dollar Not Selling At ₦1,000/$1 - BDCs Debunk Viral Post by PHAYOL81: 10:33pm On Mar 27

SoNature:

People need to offload their old stocks purchased at high prices before new prices can reflect. I hope this gain of naira is sustainable.

BUT point is they don't wait to offload their old stocks before increasing prices whenever dollars gain. Buy something in the morning and before afternoon, price increment had happened and by the time night comes around, another increment. They simply tell you dollars keep rising and so prices must reflect the economic inflation. When things improve, one expects quick change too but trust the market, they proclaim that it takes months before it can reflect.

WE are our own worst enemies. Each individual just take advantage of every situation to profit him/herself at the detriments of his/er poor fellowmen.

3 Likes

Re: Dollar Not Selling At ₦1,000/$1 - BDCs Debunk Viral Post by BondRiv: 10:57pm On Mar 27

PHAYOL81:

BUT point is they don't wait to offload their old stocks before increasing prices whenever dollars gain. Buy something in the morning and before afternoon, price increment had happened and by the time night comes around, another increment. They simply tell you dollars keep rising and so prices must reflect the economic inflation. When things improve, one expects quick change too but trust the market, they proclaim that it takes months before it can reflect.

WE are our own worst enemies. Each individual just take advantage of every situation to profit him/herself at the detriments of his/er poor fellowmen.

Greed is killing this country.

1 Like

Re: Dollar Not Selling At ₦1,000/$1 - BDCs Debunk Viral Post by cucumbar: 10:59pm On Mar 27

papyjaypaul:
1300 and 1000, wetin be the difference? 300 naira. Continue the freefall. We love it when the country is in trouble but don't like it when it is doing well. Are we sure we are okay

😁 if you dont know what difference 300 naira makes when talking about FX, then you are an antelope. A lot of you APC supporters are actually dull. I can’t take that away from you guys.

2 Likes 1 Share

Re: Dollar Not Selling At ₦1,000/$1 - BDCs Debunk Viral Post by stevups(m): 11:00pm On Mar 27

Paraman:
Tinubu is doing absolutely well. Naira is gaining against the dollar, pounds and euro. Inflation will start falling in may, the refinery will soon start working... so Tinubu is doing a very good job

In

God has brought Tinubu to assist us in Nigeria

1 Like

Re: Dollar Not Selling At ₦1,000/$1 - BDCs Debunk Viral Post by olatuns2017: 11:22pm On Mar 27

Ofunaofu:

https://punchng.com/just-in-dollar-not-selling-at-n1000-1-bdcs-debunk-viral-post/?amp

Dey play

By this time next month na N800/$

1 Like

Re: Dollar Not Selling At ₦1,000/$1 - BDCs Debunk Viral Post by oxygenlove(m): 11:27pm On Mar 27

socialmediaman:

The same lies. The same propaganda.

Take the naira back to where you met it, then you can celebrate any gain from that point. Nigerians will not eat lies

This government and the people running it have caused untold hardship and suffering on Nigerians since 2015

every past presidents should have also take Naira back to where they met it too atleast.. if by your logic

1 Like

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