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Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market (41596 Views)

Naira Rebounds, Gains N28.15 Against Dollar / Naira Rebounds As Banks Offload Excess Dollars / Traders Lose As Naira Rebounds To 720/Dollar (2) (3) (4)

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Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Islie: 8:18pm On Nov 13, 2022
Bureau de change operators in Adamawa State are rejecting foreign currencies from customers due to growing uncertainty in the parallel market.

Some of the money changers interviewed at Jimeta Modern Market in Yola said they were apprehensive over the sudden and continued crash of the dollar which destabilized the parallel market.

The chairman, bureau de change operators association in Adamawa State, Lawan Mai Yasin, said the traders incurred heavy losses after they bought a dollar at around N870 from sellers before it suddenly crashed to N680.

He explained that many trades were wary of the situation which still looked bleak for the parallel market and decided to hold on and monitor the trend to avoid further losses.

“Traders have a large quantity of goods in stock which they purchased at high price before the prices suddenly nosedived and continued to go down in the weekend, so with the uncertainty in the market, many of us are no longer buying for now”, he said.

Some customers interviewed by Daily Trust said the bureau de change operators refused to buy dollars and other foreign currency notes from them during the weekend.

“Only one bureau de change agreed to buy dollars from me on Saturday because they had it in stock and did not want to risk buying more when the price was falling dramatically. Even when I found a buyer on Sunday the price was too low, that I decided to keep my money for now”, a customer working with a foreign company said.

https://dailytrust.com/adamawa-bdc-operators-reject-dollars-as-naira-rebounds

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Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Eriokanmi: 8:22pm On Nov 13, 2022
I'm so happy with this news. Only importers would understand my mood tonight. Dollar will drop to around 500 Naira before end of this month as predicted. Amazingly, this isn't about Naira redesign. Its a global thing. Sorry to those who changed their Naira to Dollar at a peak price.

210 Likes 17 Shares

Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by blaquemyc: 8:22pm On Nov 13, 2022
Let the naira keep rebounding. Poor man don too suffer, prices of commodities keep sky rocketing while salary just dey stagnant.

205 Likes 17 Shares

Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Kyase(m): 8:24pm On Nov 13, 2022
Make Buhari shock me
Give us 1$ =1 naira before e leave office
Even for for a day or two

123 Likes 12 Shares

Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by joyandfaith: 8:24pm On Nov 13, 2022
May be Buhari wants to make $1=#1. It is actually possible.

16 Likes 4 Shares

Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by adekolaelect(m): 8:32pm On Nov 13, 2022
We pray it comes down to #200.

124 Likes 10 Shares

Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Eyesstone(f): 8:36pm On Nov 13, 2022
Kyase:
Make Buhari shock me
Give us 1$ =1 naira before e leave office
Even for for a day or two

Day dreaming.

13 Likes 4 Shares

Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Kyase(m): 8:37pm On Nov 13, 2022
Eyesstone:


Day dreaming.
Na your dream?

83 Likes 4 Shares

Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Penguin2: 8:45pm On Nov 13, 2022
I’m still looking for the idiots who were arguing with me that Naira Redesign will have no benefit.

People with criminal minds still think Nigeria is a Banana Republic.

105 Likes 8 Shares

Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by tolumizzy(m): 9:15pm On Nov 13, 2022
Nice one

8 Likes 1 Share

Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Hezzyluv: 9:15pm On Nov 13, 2022
Season what movie is this? grin grin

We would get there.
Green White Green would pepper them one day.

8 Likes 2 Shares

Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Treadway: 9:16pm On Nov 13, 2022
Lol...anything to narrow the gap btw the $ and the # is fine by me. Nigerians need some succour.

22 Likes 2 Shares

Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Decentdave(m): 9:16pm On Nov 13, 2022
Should our economy depend on dollar..Nawa o ,when we have highly educated economist in Nigeria and we can't feel their impact

14 Likes 4 Shares

Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Af0nja: 9:16pm On Nov 13, 2022
Eriokanmi:
I'm so happy with this news. Only importers would understand my mood tonight. Dollar will drop to around 500 Naira before end of this month as predicted. Amazingly, this isn't about Naira redesign. Its a global thing. Sorry to those who changed their Naira to Dollar at a peak price.

Global thing?? What other country's currency is appreciating against the dollar?

25 Likes 1 Share

Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Tannhauser(m): 9:17pm On Nov 13, 2022
grin

I know someone who was planning on having a "detty December" on the anticipated profits on the dollar trade. He bought about $10k @about ₦840 and was hoping to sell at ₦1000+ in December. Now my guy don nearly craze... cheesy

But the dollar is appreciating agin so there still hope for that "detty December" wink

24 Likes 3 Shares

Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by zombieHUNTER: 9:17pm On Nov 13, 2022
finally good News


this Naira design rumours is doing wonders

7 Likes 1 Share

Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by mrkings84(m): 9:17pm On Nov 13, 2022
Nice
Buhari is trying to equal a naira to a dollar as he promised through Tinubu

My problem with Nigeria is that when anything goes up in price due to any reason, it doesn't come down again even after the reason is resolved.....

29 Likes 3 Shares

Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by chris4gold(m): 9:18pm On Nov 13, 2022
Let the falling beginning

7 Likes 3 Shares

Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by ponyonm: 9:18pm On Nov 13, 2022
Good news

2 Likes

Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Kkings11: 9:18pm On Nov 13, 2022
Wow. Listen guys, i still exchanged at 720 today. Adamawa bdc still sells to their counterpart in abj, lag and ph. Yes it is down but let us dont jubilate yet. Forex is a long game and there are flash periods of very high/low returns.
We would know the true value after the election.

20 Likes 3 Shares

Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by rayvelez(m): 9:18pm On Nov 13, 2022
Nice one

1 Like 1 Share

Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by berlusconib2: 9:19pm On Nov 13, 2022
My belle sweet me well well �
Keep dropping
Obi is coming.
Vote Peter Obi 2023
For better quality Nigeria

21 Likes 3 Shares

Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by senddmoney121: 9:19pm On Nov 13, 2022
cool
Oya come and Use 2k only and design your amazing logo today.
The first 20 people to design theirs will receive free 3D logo version.

So send a message on Whatsapp wink

1 Like

Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Nanorest: 9:19pm On Nov 13, 2022
When it is back to 820 already

21 Likes 1 Share

Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by cooljude(m): 9:20pm On Nov 13, 2022
Kyase:
Make Buhari shock me
Give us 1$ =1 naira before e leave office
Even for for a day or two

If he achieve am .... We go hail am as beat president. All pun intended

3 Likes 1 Share

Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by hustla(m): 9:20pm On Nov 13, 2022
Eriokanmi:
I'm so happy with this news. Only importers would understand my mood tonight. Dollar will drop to around 500 Naira before end of this month as predicted. Amazingly, this isn't about Naira redesign. Its a global thing. Sorry to those who changed their Naira to Dollar at a peak price.

LOL

Dey deceive yourself. It Will still go up as they haven't solved the deep rooted issues causing the disparity

We are still over reliant on oil money

12 Likes 1 Share

Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Parachoko: 9:20pm On Nov 13, 2022
Decentda:
Should our economy depend on dollar..Nawa o ,when we have highly educated economist in Nigeria and we can't feel their impact
Asiwaju will put an end to this nonsense.

9 Likes 1 Share

Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Danieljames2017: 9:20pm On Nov 13, 2022
Ok
Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Akujuriobi: 9:21pm On Nov 13, 2022
It's $1 to ,#800 today. Don't be deceive.

10 Likes 1 Share

Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Pwettylinda(f): 9:21pm On Nov 13, 2022
grin
Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Ruggedniggaone: 9:21pm On Nov 13, 2022
Good news!we pray e go down low till e reach 100=1$

4 Likes 1 Share

Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Winning123: 9:21pm On Nov 13, 2022
"It isn't about Naira redesign. It's a global thing" This is misinformation. What is the global thing may I know

Eriokanmi:
I'm so happy with this news. Only importers would understand my mood tonight. Dollar will drop to around 500 Naira before end of this month as predicted. Amazingly, this isn't about Naira redesign. Its a global thing. Sorry to those who changed their Naira to Dollar at a peak price.

2 Likes

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