How Much Did You Exchange The Dollar For Today?

My mum just told me that it's now N155.5 per $.

To sell.

 Bought dollar @156 today @ Ikeja

A friend sold today @ $156 per dollar in Cross river.

So many of them on Awolowo Road, and Alade market

 Alade market Ikeja.    Yesterday evening. My people sold for me at N155.00

Na wa oh, everyone is buying at good price and me buy higher, how unfair could that be?

Sheu said na 156.5 him go sell today

i am surely gonna start using the guy oh for the following reasons:
1. respectful.
2. Biz minded.
3. his customer service is next to none i have seen, in Nigeria where almost everyone just talk anyhow and be rude and besides, it is a sellers market in Nija

I got it at N155 today at Alade Market Allen!

I changed the dollar for #154 today in benin.

If you think dollar is gonna drop think again, the price is already going up at the dutch auction system, the only reason it has not reflected in the black market is (a) the already high margin level (b) the mallams/alhajis are trying hard not to make it look as if their own (lamido) is weak when it comes to forex.  When the bubble becomes to heavy it will burst then we all will confess. The current price at the black market is artificial, i say hold on to your dollars if you have any, and if you need to buy, buy now.

nice to post there men,




assurance
complementaire sante - Faut-il recourir à
une mutuelle ou une assurance complémentaire santé ? A cette question,
90% des français

Forex: Naira strengthens at parallel market

Contrary to the marginal losses of the naira to the dollar as witnessed from last week, the local currency appreciated at the parallel market yesterday.

 
The dollar was exchanged for the naira at N152 against N154 last Monday, indicating a gain of N2.

Should the trend continue, the traders said a convergence of the parallel and official market rates was possible within the next two weeks.

Naira had lost N1.03 to the dollar last Monday, been the first auction day in the bi-weekly Wholesale Dutch Auction System (WDAS). The local currency had closed last weekend at N147.38 to the greenback.

Inter-bank foreign exchange rate was N152.50/$1 yesterday as against N152/$1 last Monday and N149.50/$1 last weekend.

The dealers said the black market was responding to the liberalisation of the market, which they admitted has enhanced the funding of that window.

The CBN had in furtherance of an efficient foreign exchange market liberalised the transactions.

Among the steps taken, which operators said had buoyed the market especially the parallel segment include the Integration of both classes ‘A’ and ‘B’ BDCs to the official window.

The CBN is currently implementing cash sales to Bureaux de Change as a key component of the liberalised forex market.

It had announced that it would disburse foreign exchange to BDCs at the clearing rate of the immediate past WDAS session and that all BDCs were required to sell at no more than two per cent spread above the CBN selling rate. That, the dealers said was also helping to moderate the rates at the retail end of the market.

Meanwhile, rates at the inter-bank money trading remained within the region of last week. The Nigerian Interbank Offer Rate (NIBOR) for call was yesterday at 10.4588 per cent and the 7 day paper 12.4167 per cent. The 30 day NIBOR was 14.6667 per cent; 60 day 15.6250 per cent; 180 day 16.9167 per cent and the 365 day fund 17.0838 per cent.



Source: http://odili.net/news/source/2009/jul/29/206.html




We go soon begin to buy dollar for N149 - N152   

In the UK we are watching Nigeria closely. I don't know how they will sustain the strength of Naira in the long term when the amount of oil barrels coming out of Nigeria has reduced considerably.  I am waiting to see where we are at the end of next quarter. Naira is not set free yet in my own opinion DYOR

The same link coinmill.com has it at 157 naira to a dollar today. Guess the sudden rise might be attributed to this

Naira Slumps as CBN Protects Reserves

The naira declined to its weakest level in at least 15 years yesterday as the Central Bank of Nigeria limited  the supply of dollars at its weekly auctions to protect the nation’s foreign reserves.
“The naira slipped to N156.85 to the dollar by 11 a.m. yesterday. That’s the weakest level since at least 1994, according to Bloomberg data,” Citigroup Inc said in a client note yesterday.
The CBN manages the naira exchange rate by controlling the amount of dollars it supplies to banks at auctions held on Mondays and Wednesdays every week.
CBN sold $183.7 million to commercial banks at its most recent auction on Wednesday, July 29, below the demand of $604.84 million.
The decline in the naira sparked off “panic” sales of naira for dollars by Nigerian businesses “who feared the local currency could dip further and hurt their operations,” Citigroup noted.
“The central bank simply isn’t meeting the demand for dollars in Nigeria at its bi-weekly auctions. We suspect it’s because they don’t want to run down their foreign reserves,” Leon Myburgh, a fixed-income and currency strategist for sub-Saharan Africa at Citigroup, said in an interview.
Nigeria’s foreign reserves slumped 19 per cent to $43.2 billion by July 3, compared with $53 billion at the end of December, CBN Governor, Sanusi Lamido Sanusi said on July 7.
The naira has lost almost a quarter of its value since the end of November last year when the global financial crisis first began, sparking a slump in the price of oil, which accounts for about 90 percent of Nigeria’s export revenue.

Do i sense another rise in the exchange rate of dollars to naira, next few days will tell,
http://www.thisdayonline.com/nview.php?id=150327