DOLLAR NOW SALES FOR #205 in Abuja

makzeze:
DOLLAR NOW SALES FOR #205 in Abuja

For real? The aboki i called said 235. Pls give me a phone number to call please..... i need like 5000 dollars.

peaceful22:

For real? The aboki i called said 235. Pls give me a phone number to call please..... i need like 5000 dollars.

it it 215 not 205 pls. I have sent the number to you.

makzeze:
it it 215 not 205 pls. I have sent the number to you.

Most places in Lagos this morning USD is 205 while GBP is 310. For those buying, remember your local banks in naija will NOT accept forex deposits.

makzeze:
it it 215 not 205 pls. I have sent the number to you.

makzeze i have sent you an email so please contact me lets talk on how i can get those dollar from you. please am in ph

makzeze:
it it 215 not 205 pls. I have sent the number to you.

Ok dear thanks.... am still tempted to wait a little more since my travel date is next month. ... pray it further goes down.

peaceful22:

Ok dear thanks.... am still tempted to wait a little more since my travel date is next month. ... pray it further goes down.

dont pray it finally goes down but drastically and permanently goes down for the good of only nigerians.

makzeze:
DOLLAR NOW SALES FOR #205 in Abuja

I predicted dis, I dey laugh , intelligent peeps now use their cards, and get dollars @ a cheaper rate.

IVORY2009:


what is your own analysis i.e reasons for dollar going down? Today its 235 @ the island, wen buying frm mallam.

The analysis is that cbn has made it that customers cannot deposit to domiciliary account so what will you do with the dollar after buying them since you can't deposit to your account?

mavinc4u:


The analysis is that cbn has made it that customers cannot deposit to domiciliary account so what will you do with the dollar after buying them since you can't deposit to your account?

I was surprised when I got the email to that effect from GTBank today.

mavinc4u:


The analysis is that cbn has made it that customers cannot deposit to domiciliary account so what will you do with the dollar after buying them since you can't deposit to your account?

carry them in your pocket abd travel abroad. it is less than 10k $ no need to declare.

ce bein,

mavinc4u:


The analysis is that cbn has made it that customers cannot deposit to domiciliary account so what will you do with the dollar after buying them since you can't deposit to your account?

If this is the reasons, I can assure you the banks are going to find a way out of dis, in the coming days.

IVORY2009:

If this is the reasons, I can assure you the banks are going to find a way out of dis, in the coming days.

I can assure you they will not, not at the expense of their Banking license. Note that most banks will not allow outward telegraphic transfers of FX that has already been deposited as cash into dom accounts.

passwelle:

I can assure you they will not, not at the expense of their Banking license. Note that most banks will not allow outward telegraphic transfers of FX that has already been deposited as cash into dom accounts.

pls how can one transfer dollar abroad for purchase of goods.

IVORY2009:


If this is the reasons, I can assure you the banks are going to find a way out of dis, in the coming days.

If you have your money in a foreign land then send it back to Nigerian domiciliary account.


I just off loaded all my dollars into Bank of America account and A Gtbank Domiciliary account from china.


The way now is to transport dollars outside at cheap rate and sell electronically at high rate. That's the new business. First deal work.


But for me now. I don't want to store my money in dollars untill its stable again. I am OK with the naira

makzeze:
pls how can one transfer dollar abroad for purchase of goods.

To fund imports, if its on list of what is approved by CBN, you apply for financing thru Form M etc. If its not on the list of importable items approved by CBN, you resort to finding forex funding from abroad or from individuals who have FX in their dom accounts funded thru foreign transfers. For those who have funded their dom accounts using cash deposits they may be unable to transfer this outside the country.
nb. Note that this is for those who deploy large amounts of funds for imports. If sub $50k, you can just use you naira denominated cards.

By Wed I will have about 2500 USD for sale but only by electronic transfer and at 240. Only serious people will be attended to.

stagger:
By Wed I will have about 2500 USD for sale but only by electronic transfer and at 240. Only serious people will be attended to.

i want to sell mine too, but by cash.

passwelle:

To fund imports, if its on list of what is approved by CBN, you apply for financing thru Form M etc. If its not on the list of importable items approved by CBN, you resort to finding forex funding from abroad or from individuals who have FX in their dom accounts funded thru foreign transfers. For those who have funded their dom accounts using cash deposits they may be unable to transfer this outside the country.
nb. Note that this is for those who deploy large amounts of funds for imports. If sub $50k, you can just use you naira denominated cards.

You can't use naira denominated cards as you now allowed to redraw above $300 pe day. And real business importers talk in thousands of dollars not hundreds.

It goes to say form A - Intangible items or service or Form M is the way. We are back to old times.

Ymodulus:

You can't use naira denominated cards as you now allowed to redraw above $300 pe day. And real business importers talk in thousands of dollars not hundreds.
It goes to say form A - Intangible items or service or Form M is the way. We are back to old times.

Who said anything about withdrawing cash? You can use your GTB card for foreign transactions web/POS up to 4 million naira in a day.

stagger:
By Wed I will have about 2500 USD for sale but only by electronic transfer and at 240. Only serious people will be attended to.

You are not ready to sale yet. The price electronically now is 220. I sold mine 210. If you want 220-225 that's the price.

Act smart and off load your dollars. Note.

There is a current ish now. Transferring from some bank Dom is showing error via e banking. Confirmed from Gtbank and Fidelity.

passwelle:

Who said anything about withdrawing cash? You can use your GTB card for foreign transactions web/POS up to 4 million naira in a day.

Bro, you mentioned $50k and likes in your post. Importers that spend such amount don't use POS they give cash factories prefer cash and not pos. Beside it is crazy to spend 4million per day via POS.

The only way I see your idea working is when you do POS for money. It's done in countries like China. Where you use pos input amount and the pos owner gives you raw cash at said amount.


Aside all this no serious importer will travel to get goods in a foreign land of high amount and pay using POS its never done.

passwelle:

nb. Note that this is for those who deploy large amounts of funds for imports. If sub $50k, you can just use you naira denominated cards.

@Ymodulus, you obviously did not read the original post well. I have quoted this above. As used "sub $50k" means if less than $50k.

passwelle:

@Ymodulus, you obviously did not read the original post well. I have quoted this above. As used "sub $50k" means if less than $50k.

OK , I missed that 'sub'. But even at that you would have used the word $1-14,000. Thats appropriate.

Same sorry I missed the word sub

Ymodulus:

If you have your money in a foreign land then send it back to Nigerian domiciliary account.


I just off loaded all my dollars into Bank of America account and A Gtbank Domiciliary account from china.


The way now is to transport dollars outside at cheap rate and sell electronically at high rate. That's the new business. First deal work.


But for me now. I don't want to store my money in dollars untill its stable again. I am OK with the naira

Good. What method of transfer did you use in offloading from China to Bank of America and GTBank? Was it Payoneer kind of BoA account you mean? If so, how will you get your dollar out of BoA eventually?

alternative ways of sending money is through bills for collections and letters of credit.its the best

passwelle:

Who said anything about withdrawing cash? You can use your GTB card for foreign transactions web/POS up to 4 million naira in a day.

I thought the platinum MasterCard is their highest, and that goes for N2m daily web/POS usage while the basic orange card is N1m. Where will you get N4m daily usage with all the recent CBN limitations?

mimima:
alternative ways of sending money is through bills for collections and letters of credit.its the best

Please expatiate on these methods.

arbitrage:

I thought the platinum MasterCard is their highest, and that goes for N2m daily web/POS usage while the basic orange card is N1m. Where will you get N4m daily usage with all the recent CBN limitations?

You are wrong Sir. Please refer to link below. The limits you quote are for local transactions.
http://www.gtbank.com/personalbanking/cards/mastercard/gtbank-naira-debit-cards/gtbank-platinum-debit-mastercard#transaction-limits

Please how much is dollar rate today in Nigeria?

Ymodulus:


You are not ready to sale yet. The price electronically now is 220. I sold mine 210. If you want 220-225 that's the price.

Act smart and off load your dollars. Note.

There is a current ish now. Transferring from some bank Dom is showing error via e banking. Confirmed from Gtbank and Fidelity.

Why should I? September is approaching when schools abroad (UK and others) are opening for a new session. People will need foreign currency to pay school fees. Where will they source the money from seeing that dollar deposits are now prohibited? It will only come from electronic transfers.

The way I see it, I am actually acting a lot smarter than most people selling their dollars now. What do you think?