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Nairaland Forum / Nairaland / General / Business / Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market (41751 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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Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Doyou2019: 6:08am On Nov 14, 2022 |
Parachoko: Yes, for the esteemed members of Iragbiji Town Union |
Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by jonahhh: 6:10am On Nov 14, 2022 |
Penguin2: Lol this isn’t about the naira redesign lmao… dollar is crashing normally , has nothing to do with our stupid naira new design |
Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Samade7: 6:27am On Nov 14, 2022 |
Kyase: No be only shock, the feat he can't achieve in 7 years |
Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Angelawhite(m): 6:31am On Nov 14, 2022 |
Penguin2: If you understand economics, you would have known what really caused the rebound of Naira in the parallel market . Note that the official rate didn’t appreciate. What does it tell you ? |
Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Angelawhite(m): 6:33am On Nov 14, 2022 |
Eriokanmi: Before the end of this month, dollar will probably trade at N750 and N900 before the end of the year |
Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Decentdave(m): 6:35am On Nov 14, 2022 |
Angelawhite:as at this morning dollar trades at #671 |
Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by virginchaser(m): 6:46am On Nov 14, 2022 |
Kyase: Please try another malaria drug. The one you took earlier isn't working. |
Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by ManirBK: 6:47am On Nov 14, 2022 |
Eriokanmi:pls at what rate now |
Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Parachoko: 6:56am On Nov 14, 2022 |
Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Parachoko: 6:57am On Nov 14, 2022 |
Angelawhite:Why do you feel so? |
Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Angelawhite(m): 7:00am On Nov 14, 2022 |
Decentdave: 1. Official rate did not appreciate and it tells you that 2. There’s no new policy in place that affected the value of naira 3. The appreciation of naira in the parallel market was only fueled by the rumors that the United States will phase out their old currencies and hence the rush by BDC and other dollar holders to sell off their dollars 4. This rush injected so many dollars in circulation and naturally drove down the price of the dollar What happens when people realize it was a mere rumor? You expect that the dollar will slowly climb back up. The demand for dollar is still high. Importers will mop up this “excess” dollars, people are already hoarding the dollars to sell higher in December and this will naturally drive it up as the demand has increased. Official rate is still the same. A signal that Nigeria is still not earning more forex and the black market still controls majority of the forex transactions. My opinion anyway 2 Likes |
Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by ubumoh(m): 7:06am On Nov 14, 2022 |
Kyase:Can Buhari actually do this? |
Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Sardauna24(m): 7:16am On Nov 14, 2022 |
Kkings11:mr man we are hoping for the best |
Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Harmless1b(m): 7:30am On Nov 14, 2022 |
mrkings84: Aswear.. my problem too... They will be like I bought it at high price, do you expect me to sell it beyond what I bought it.. forgetting that they also sold the ones they bought at low price at the rate of high price too. |
Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by vertueptime: 7:33am On Nov 14, 2022 |
Kkings11: For those that don't know the game, by the time CBN blocks online transactions and mandate e naira and new naira notes are limited in supply wel know the currency to use. No loose guard 1 Like |
Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by clinician2x: 7:38am On Nov 14, 2022 |
joyandfaith: This kind thought comes from a place of stark ignorance. Typical of black people. |
Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by tabaralph: 7:43am On Nov 14, 2022 |
Penguin2: One idiot even called me a clown when I told him that naira we rebound in the coming weeks |
Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Chrisx1x(m): 7:46am On Nov 14, 2022 |
Af0nja:He is right. Dollars dating 2021 and below cease to be accepted from January 2023 so alot of people are trying to get rid of their old dollar notes. It has nothing to do with cBN policy |
Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Af0nja: 7:48am On Nov 14, 2022 |
Chrisx1x: That's not true, are Nigerians hoarding more dollars than Mexican drug lords Why isn't the peso appreciating as well? |
Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Kyase(m): 8:08am On Nov 14, 2022 |
virginchaser:you no well |
Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Vizconson(m): 8:12am On Nov 14, 2022 |
Tannhauser: Ask that guy to start looking for the best alternative currencies to change the money to. Tell him to read the news |
Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Olukayodeaustyn: 8:24am On Nov 14, 2022 |
I have always wonder why Nigeria economy will depend wholly on foreign currency. Ko make sense now! |
Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by AlphaStyles(m): 8:25am On Nov 14, 2022 |
PLEASE LET IT KEEP FALLING 1 Like |
Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Olukayodeaustyn: 8:27am On Nov 14, 2022 |
I have always wonder why Nigeria economy will depend wholly on foreign currency. Ko make sense now! |
Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by justtee42k: 8:30am On Nov 14, 2022 |
Eriokanmi: Can't you just appreciate this good work and give credit to them ? Hatred won't make us get better |
Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Penguin2: 8:42am On Nov 14, 2022 |
tabaralph: These people are very myopic and never look beyond their noses. They only look at the immediate effect without considering the long term gain. It’s no surprise they queue behind the wrong candidates at elections. |
Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by joyandfaith: 8:43am On Nov 14, 2022 |
clinician2x: See my signature |
Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by tabaralph: 8:51am On Nov 14, 2022 |
Penguin2:They have not seen anything yet wait until the redesigned naira flood the economy |
Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Penguin2: 8:59am On Nov 14, 2022 |
tabaralph: I’m happy Buhari has said there’s no going back with the policy. So, let them prepare to cry blood. |
Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Eriokanmi: 9:34am On Nov 14, 2022 |
justtee42k:Give credit to who? This doesn't have anything to do with the naira redesign rather, it even made dollar to become.more scarce. Was it the naira redesign that caused pounds to depreciate massively against the dollar last month too? What of euro which also suffered same setback? RMB and other popular currencies weren't left out, including our naira. The moment the CBN announced the naira redesign what happened? People thronged the market to exchange their naira to dollar thinking the cbn would reject them and mopped up the little dollar available which made it become more scarce. The dollar jumped up to 900 naira in 2 weeks. Now, things are stabilising world-wide. Pounds is regaining its strength, likewise Euro...abi na naira redesign cause this too? Haba! I would have even given kudos to the cbn, had they restricted the amount of naira to be collected back from customers through deposit money banks rather, they increased the allowable amount you could deposit which gave our politicians an edge to deposit all they had stolen. For me, the redesign is a means of cashing out by emefiele before he leaves office. That's all. Soludo and Sanusi wanted to do same but Nigerians rejected the moves. What we need isn't naira redesign cos it's not curbing any crime. What we need is fx stability and accessibility. 1 Like |
Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Babaibeji2020(m): 9:37am On Nov 14, 2022 |
Af0nja:Mexicans Those guys are epic! 1 Like |
Re: Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market by Fidelismaria: 11:16am On Nov 14, 2022 |
Chrisx1x: This is a lie, Dollars dating 2021 and below still remain legal tender. The rumour has been debunked. |
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