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Nairaland Forum / Nairaland / General / Business / $1 Back To ₦690 At Black Market (37851 Views)
Naira depreciates, posts £1/N2050 at black market / UK Pounds Sells Above N1,000/£1 At Black Market For 5 Straight Days / Updates: Dollar (USD) To Naira At Black Market Rate Today: Aboki Price (2) (3) (4)
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Re: $1 Back To ₦690 At Black Market by yetunsbay(m): 8:53am On Nov 11, 2022 |
OkutaNla:no be naija merchants 3 Likes |
Re: $1 Back To ₦690 At Black Market by doshiyad1: 8:53am On Nov 11, 2022 |
Themaths: Great question am in with you on this. See them celebrating and displaying foolishness if not wickedness |
Re: $1 Back To ₦690 At Black Market by shantti(m): 9:01am On Nov 11, 2022 |
Abeg, let it continue to fall in Jesus name. I have dollars in my domiciliary account, but let dollars continue to fall tremendously. What is the gain of selling your dollars at a very high price and after using the money, u start to face the hardship that high dollar price is causing. It's better you sell at a low price, loose and still enjoy the stability that low dollar price will cause 15 Likes 2 Shares |
Re: $1 Back To ₦690 At Black Market by Babaken(m): 9:03am On Nov 11, 2022 |
temitope27:You mean the drug dealer. |
Re: $1 Back To ₦690 At Black Market by OneMillionBTC: 9:03am On Nov 11, 2022 |
Pierced: Okay.... Thanks |
Re: $1 Back To ₦690 At Black Market by Nobody: 9:03am On Nov 11, 2022 |
iLegendd:true! The nations health should always come first. Enjoyed some sales last week too. It was so good @ 850 lol! 4 Likes |
Re: $1 Back To ₦690 At Black Market by d142475: 9:14am On Nov 11, 2022 |
savcy: From your contribution, it seems you have some technical knowledge. What do you think is the solution to this problem? I not an expert, but Here’s my lay man’s thinking: The government should step up to advocate for Nigerian businesses so that international transactions can be carried out through bank transfers or through the use of special debit cards. The government can serve as some sort of guarantors since these international entities are afraid of fraud from naija. Also, since a good number of our businesses are with China, our government and Chinese government or business community can set up a payment system that doesn’t involve the use of physical cash( dollar or yen). In that case, the banks and credit card companies do the conversion at official rates, Also, domiciliary accounts should be eliminated. When these happen, there’d be less demand for actual cash (dollars and yen) . This will put the BDCs out of business. What will an importer or manufacturer need cash for if his transactions could be done through bank or through a special debit card? 5 Likes |
Re: $1 Back To ₦690 At Black Market by piagetskinner(m): 9:14am On Nov 11, 2022 |
We will not rest until it is; $1= ₦1 1 Like |
Re: $1 Back To ₦690 At Black Market by stasius: 9:18am On Nov 11, 2022 |
Ban BDCs. It will end the whole dollar rubbish. |
Re: $1 Back To ₦690 At Black Market by mankan2k7(m): 9:24am On Nov 11, 2022 |
Acidosis: Please what is the CBN official rate |
Re: $1 Back To ₦690 At Black Market by Angelawhite(m): 9:26am On Nov 11, 2022 |
savcy: I like friends like you |
Re: $1 Back To ₦690 At Black Market by COMPAQ(m): 9:27am On Nov 11, 2022 |
MelesZanawi: Exactly! |
Re: $1 Back To ₦690 At Black Market by Angelawhite(m): 9:28am On Nov 11, 2022 |
JoshTim: 51 years of your life and you can’t differentiate between Igbo and Ibo 0lod0 4 Likes |
Re: $1 Back To ₦690 At Black Market by 16inchdick: 9:29am On Nov 11, 2022 |
Many Bdc said they lost millions because of this. I pity those hoarding the dollar this thing go crash as soon as Dangote refinery starts working by 1st quarter next year march 1 Like |
Re: $1 Back To ₦690 At Black Market by OrdinaryNigeria(m): 9:30am On Nov 11, 2022 |
Okealaaye: Believe ursef at ur own risk too |
Re: $1 Back To ₦690 At Black Market by BabaO2: 9:31am On Nov 11, 2022 |
bonnyhope:There is momentum already. From 850 to 690, it is possible |
Re: $1 Back To ₦690 At Black Market by ugbanante: 9:33am On Nov 11, 2022 |
The first good news here today. I feel happy that at least we are heading somewhere good. 2 Likes |
Re: $1 Back To ₦690 At Black Market by KazikageSama: 9:35am On Nov 11, 2022 |
APC met dollar at 200, took it to 800, reverted it to 690 and the ignoramus are rejoicing. who do una like this? 1 Like |
Re: $1 Back To ₦690 At Black Market by ibechris(m): 9:36am On Nov 11, 2022 |
JoshTim: This one can't sleep without hating igbos. I wonder how u people nurture this hatred to adulthood. Even if its hereditary,can't u reason it out and be free of igbophobia. |
Re: $1 Back To ₦690 At Black Market by COMPAQ(m): 9:36am On Nov 11, 2022 |
savcy: The reason Naira depreciated even during high oil prices was because of unparalleled crude oil theft, which caused a lot of shut downs. For an extended period in the last 3-6months, no single drop was exported from Forcados Terminal and Bonny terminal -2 or our biggest terminals. So of course the country was not earning jack from there, hence our oil production dropped to as low as 900l barrels per day. For a country that should be doing 1.6mln to 1.8mln per day. Calculate the loss of 700k barrels per day for the past 10months at an average of $105, then see how much foreign exchange the country was loosing. This is the first time in my adult life that the currency has depreciated at t time of high oil prices. We normally suffer depreciation when there is a crash in crude oil prices. 3 Likes |
Re: $1 Back To ₦690 At Black Market by ufuosman(m): 9:37am On Nov 11, 2022 |
Very good |
Re: $1 Back To ₦690 At Black Market by Femolacaster(m): 9:37am On Nov 11, 2022 |
iLegendd:I'm with you on this, we shouldn't just be too greedy! 1 Like |
Re: $1 Back To ₦690 At Black Market by Misterone: 9:40am On Nov 11, 2022 |
OrdinaryNigeria:see dem. They want bad things to be happening to their country just to be vindicated. Wicked people. 2 Likes |
Re: $1 Back To ₦690 At Black Market by ayotade09(m): 9:40am On Nov 11, 2022 |
Shen gbo weyrey PeterObi4LP: |
Re: $1 Back To ₦690 At Black Market by Misterone: 9:52am On Nov 11, 2022 |
PeterObi4LP:yeah! The reason for this drop in price of dollar to naira is that Obi was accused of hypocrisy for campaigning on a production economy while in fact he is one of the biggest importers in the country. Out of shame and his foolish smartness, he stopped importation. Making demand for dollars to come down. |
Re: $1 Back To ₦690 At Black Market by Joniww(m): 10:03am On Nov 11, 2022 |
shantti:for does still hoarding .. |
Re: $1 Back To ₦690 At Black Market by KingTom(m): 10:05am On Nov 11, 2022 |
temitope27:You can't stop the reign won't stop can't stop won't stop what? |
Re: $1 Back To ₦690 At Black Market by odaniel1(m): 10:07am On Nov 11, 2022 |
had the funniest experience ystdy at eko hotel. because my office is close by, I visited the BDC guys @ 2pm and negotiated for N770, they refused and offered to buy @N720. By 5pm after I closed from work, visited them again and they informed me the rate had dropped offering me N690. Told them i'd keep my greenback till it appreciated cos e pain me say dem dey use me shine! grin Today, they offered N650. Guess what? i told them to bring it! cheesy U pipu wee nor kill me in this godforsaken country! cry 1 Like |
Re: $1 Back To ₦690 At Black Market by Fearyourcreator: 10:08am On Nov 11, 2022 |
Pierced:Mine was 864 on Friday ... Still stucked cus my withdraw was pursed on that same day... |
Re: $1 Back To ₦690 At Black Market by Fearyourcreator: 10:08am On Nov 11, 2022 |
Raxxye:Amen 1 Like |
Re: $1 Back To ₦690 At Black Market by Fearyourcreator: 10:10am On Nov 11, 2022 |
Themaths:Normally na mumu go believe that... How can that happen 12 years sef... Nigerians love lies na... |
Re: $1 Back To ₦690 At Black Market by Fearyourcreator: 10:11am On Nov 11, 2022 |
iLegendd:Anyday... Binance stopped my withdrawl last week saying nonsense on my withdrawl |
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