₦airaland Forum

VellyG:
Verified waste of sperm. Go school u no gree. You think mods don't do verification b4 banning.

Vellyg, you're a poverty-engulfed piece of smelly sh!t. Attention-seeker. Go fvuck ya mama...useless animal

For those of us that might be interested in the daily exchange rate of the Naira against the Dollar, I feel
it will be a good thing to have anyone with information both from the official bank rates and the black market to post the rates here (if the black market still exists).

So, at how much did you exchange our dear Naira against the greenback today? And at where?

This will help NLers who are interested in exchanging to know the best places to shop for the dollar.

I'll start. Here's the current prevailing interbank rate in screenshot:

God help us oo

Nigeria ’ s new foreign exchange policy ,
which begins today in the interbank
foreign exchange market , is expected to
start on a cautious note when the new
rules introduced by the Central Bank of
Nigeria ( CBN ) come into effect today .


CBN Governor , Mr . Godwin Emefiele ,
announced last Wednesday that the
apex bank would , from today , begin
market trading of the naira to alleviate
chronic foreign exchange shortages and
boost the economy .


Forex dealers and banking industry
sources told New Telegraph that despite
the release of the guidelines by the CBN ,
no one could predict how the market
will play out until actual trading
commences .


A treasurer with a new generation bank
said : “ Given the circumstances , the
market is likely to open on a cautious
note . There will be lots of naira , but few
dollars . We expect dollar demand to be
in the range of between $4 and $5
million.


“ All the banks are going to be primary
dealers , so , this would bring pressure
down . Banks don ’ t have to run around .
“ Also , remember , it ’ s a two - way quote ;
if you don ’ t have dollars to sell to the
CBN , you cannot buy.


So , the market would open on a
cautious note tomorrow (today ). There
would be lots of naira but little dollars . ”
New Telegraph further gathered that a
significant impact of the new policy is
that it would lead to a devaluation of
the naira on the interbank market ,
thereby making more money available
to the Federal Government and the
states to spend , which will in turn
reduce pressure on the parallel market .


Indeed , following the announcement of
the new policy , the naira has steadily
appreciated on the parallel market ,
rising to N 340 to the dollar as at
yesterday . Another bank official also
pointed out that the new forex policy
will negatively affect lenders that have
suspended international transactions on
naira debit cards , as their customers
will rush to banks that still allow such
transactions.


He said : “ The new policy will see the
naira exchanging against the dollar at
close to the parallel market rate . So ,
those issues that banks were having
because of the disparity between the
parallel and official market rates under
the old system have now been taken
care of . ”


According to guidelines on the new
system issued by the CBN , the market
will operate as a single market structure
through the inter - bank / autonomous
window while the exchange rate would
be purely market - driven using the
Thomson - Reuters Order Matching
System as well as the Conversational
Dealing Book .


Under the new structure, the CBN will
also introduce Forex Primary Dealers
( FXPD ) that will be designated as
authorised dealers to deal with it on
large trade sizes on a twoway quote
basis.


The guidelines further state that
participants in the market will include
authorised dealers, authorised buyers,
oil companies , oil service companies ,
exporters and end- users. Significantly,
Reuters reported at the weekend that
banks had asked customers to submit
bids ahead of the start of to - trading.


Analysts said that lenders asking
customers to submit bids is a signal that
the new forex trading platform will be
driven by market forces and not
dominated by internal bank trading.


The news agency reported a source as
saying that after a meeting with CBN
officials and bank chief executives last
Friday, banks asked their clients to send
them pending Letters of Credit ( LCs ) for
them to resubmit and to quote a rate at
which they want to buy dollars .


According to the source , customers had,
so far , submitted bids between N 210
and N 290 naira to the dollar . “ Liquidity
will likely return to the market because
Central Bank will now sell its dollars at
higher rates , ” the source was quoted as
saying .


A Reuters ’ poll found that analysts
expect that when the naira floats freely
today , it will trade at N 275 to N 300 per
dollar . The banking watchdog had said
that there is a $ 4 billion backlog of
demand in the market , which could take
three to four weeks to clear .


SOURCE: https://newtelegraphonline.com/cautious-trading-expected-forex-reforms-begin-today/

What if you could send a message to God? What would you say? What would you ask for?

If people from everywhere could be writing messages here, God just might take notice.

Don't miss your opportunity to send your own message.

MORE PHOTOS...

These two chiefs had been on the political warfront to see who will rule Akwa Ibom State. Even though one won, I believe that both men can (and should) join hands together to build Akwa Ibom of our dream.

Here are some epic throwback photos of the two political arrivals chilling together back then when they never went to court.

Akwa Ibom can be great if we all come we together as one.

Akwa Ibomites, let's put political ambitions aside and unite.

Yak idiana kiet ibob Akwa Ibom...

Another thief coming in...

Mek una show pinshure nah

Udom Emmanuel is the best dressed Governor, anytime anywhere.

lekkie073:
d problem is dat why will u be lying say 1k miss when d money dey ur hand

Thiefu

If I start my own ehn....

Ah!

lekkie073:
dey decieve urself say 1k miss when in actuality u and I know dat 1k no miss...
u collect 100k from mama and papa
u gave mama and papa 2k back
u still owe mama and papa 98k
of the 98k u bought lappie 97k and u still have 1k with u....



now, which 1k lost

u be fraudster I swear

But I said mek u no vex nah...abi the Buhari ear symptom don reach ur end

VellyG:
My name is VellyG. I'm a complete waste of sperm, a vagabond and a miserable sycophant. I'm the single most clueless f00l on NL.

Mods, abeg mek una block me oo. cc lalasticlala, abeg block me. I'm a madman.

Naija must break. Muslims are fools. Ramadan is a waste of tym carried by id!ots. Prophet Mohammed is dullard who doesn't exist.

I am just a shameless i-diot... Akpa amu

I see

lekkie073:
no 1k is missing.
d 1k with u plus d 97k u paid for d lappie equals 98k which is what u r still owing papa and mama

No vex oh, but dat na wrong answer

Assuming you saw a laptop of 97K and you wanted to buy it, but didn't have the cash.

So, you went and borrowed 50K from ur mom and 50K from ur dad which equals 100K.

You bought the laptop which left you with 3K change.


You gave ur dad 1K and ur mum 1K and kept the other 1K to yourself.

Now, you owe your mum 49K and ur dad 49K.


Now 49K+49K = 98K + ur 1K kept = 99K.


Question: Where is the missing 1K?


I know some Nairalanders are intelligent.

Solve it and share the answer...

cc lalasticlala

Congrats, mehn...

This shows that despite the challenges Nigeria is currently going through, good things are still happening in our country.


And I think this sorta post should be FP-ed here on NL and not only the bad news happening out there or useless stuff like how tonto bathed with her husband last night

VellyG:
Have u made any point ? Is it neecesaary u hurl insults before making Ur point? I really get pissed off when I see ídiots like u defending that useless clown simply because u live on crumbs falling from AKSGH.

Please I want you to list the number of achievements to his credit in terms of industrialization since the past one year. And 4 Ur info don't u ever mention peacock paint Bcoz that's one project that's yet to see the light of day but he's been gallivanting the whole state claiming to have refurbished it.

Mind u am a PDP loyalist , I love to speak the truth . Udom has achieved nothing in the past one year period.

Confused bastard. I no blame u. D problem be say !diots like u no dey read. Na to come Nairaland come post baseless rubbish without proper research.

You just proved that you went to school for nothing.

I recommend you go ask for a refund of your school fee (if at all you're a graduate).

For your information, here are the achievements of that Gov you're mumu-ly hating on: [[[yes you're a smelly ass hater]]]


UDOM'S ACHIEVEMENTS SO FAR AFTER 1 YEAR IN OFFICE...

Ground Breaking Ceremonies
1. DAAR Communications Broadcasting Complex,
Abak
2. Led factory at Itam
3. Shoprite at Ibom Tropicana
4. Automobile Assembly Plant at Itu
ROAD CONSTRUCTION PROJECTS APPROVED
1. Ndon Eyo Etinan road
2. 3.5km Ikot Udom with 15m span bridge in
Ibiono Ibom
3. 5km Ikot Usop – Ikot Edeghe – Ikot Ekpuk
road with 30m span bridge in Mkpat Enin
4. 1km Awa Iman road in Onna
5. Construction/remodelling roads in Eket
Metropolis
6. Dualization of Etinan-Onna with two bridges
7. Dualization Ikot Oku Ikono – Etinan road with
Flyover at Ekom Iman
8. Construction of Ikot Ebekpo – Ikot Ebidang
Road in Onna
9. Urbanisation of Oron and drainage control
system
– YOUTH EMPOWERMENT PROGRAMMES
1. Special Pilgrimage and Empowerment training
of 100 youth in Isreal for Mechanised Farming
2. Training of 1000 youth on Oracle Database
Administration
3. Training of 329 youth on film production
4. Training of 200 youth on Power Sector
– Interest-free loans of over N2b to thousands
of Akwa Ibom People
– Payment of compensation to over 2000 flood
victims
– 18-20 hours of power supply in areas that
have been connected by PHED
– Payment of outstanding salaries to Primary
School Teachers
– Payment of outstanding gratuities to
Pensioners
– Erosion intervention at
– Remodelling of St. Luke Hospital, Anua
– Revamping of Peacock Paints Industy
– Erosion control is on-going at School of
Nursing, Anua


Now come and wail that Udom has not achieved anything...

FYI, I'm not eating from AKSGH. So I'm not trying to defend Udom. Only thing here is, your comments are nonsensical and lack facts.

VellyG:
Udom Emmanuel is a useless gov. He hasn't done any tin tangible since he came in. Am so pissed

Mumu, sharrup jare. Wetin u sabi?

See as u just say he hasn't done "any tin"

As in... Any tin AT ALL?? Since he came in? Haba...use head b4 u post nah..

U xpect d governor to repeat the spending spree of Akpabio?

Akpabio was into infrastructure, that's why his achievements were obvious. Udom's admin is focused on INDUSTRIALSATION, which zombies like u cannot see fast because u are as confused as buhari.

Udom is working, but silently.

And besides, na only one year in office wey dem dey take judge administration? Minus those months wet d useless Umana take distract d governor.

From ur comment, its obvious dat it will take u approximate 74 years from now to receive sense.

1 Thing You Never Knew You Could Do On Nairaland:

1. Create a thread, add the keyword SNAKE. Come back later and you'll find it on FP






lala, dis na FP material oo... no be only snake and tonto

Wey hair...
Sorry, wey pix...

@OP

Una dey kraze