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Why Are Banks Charging Black Market Rates Now ?? - Business - Nairaland

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Why Are Banks Charging Black Market Rates Now ?? by labi1977(m): 8:00pm On May 23, 2017
I was shocked to hear then confirm gtb is changing at 378/$ black market rate now !! Most other banks r doing similar. How can this b legal ?
Re: Why Are Banks Charging Black Market Rates Now ?? by eezeribe(m): 10:35pm On May 23, 2017
Because they are part of the corrupt system

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Re: Why Are Banks Charging Black Market Rates Now ?? by coolscott(m): 10:35pm On May 23, 2017
labi1977:
I was shocked to hear then confirm gtb is changing at 378/$ black market rate now !! Most other banks r doing similar. How can this b legal ?
You mean using the naira MasterCard?
Re: Why Are Banks Charging Black Market Rates Now ?? by Connoisseur(m): 12:31am On May 24, 2017
It's called rate convergence.
Exactly what the cbn hoped to achieve
Re: Why Are Banks Charging Black Market Rates Now ?? by labi1977(m): 1:41am On May 24, 2017
coolscott:

You mean using the naira MasterCard?

Yes, but all banks too

Connoisseur:
It's called rate convergence.
Exactly what the cbn hoped to achieve

Y on earth wud it converge higher Dan official rate of 305, scam
Re: Why Are Banks Charging Black Market Rates Now ?? by Connoisseur(m): 11:34am On May 24, 2017
labi1977:


Yes, but all banks too



Y on earth wud it converge higher Dan official rate of 305, scam

Gradual process
Re: Why Are Banks Charging Black Market Rates Now ?? by jayjax(m): 11:52am On May 24, 2017
I'm still making transactions at the rate of #320/$..contact me to know how I do it

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