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 Business › Re: How Much Did You Exchange The Dollar For Today? by BOMANY: 3:25pm On Aug 25, 2011 |
Fhemmmy:Unfortunately I dont think so, I believe it is limited by the administration of Master card itself, like international limit. I asked my brother and he told me the same |
| Business › Re: How Much Did You Exchange The Dollar For Today? by BOMANY: 2:52am On Aug 25, 2011 |
Welcome Dr. Iweala  |
| Business › Re: How Much Did You Exchange The Dollar For Today? by BOMANY: 2:51am On Aug 25, 2011 |
[size=14pt]Nigerian naira firms vs dlr on new fx rule[/size] LAGOS (Reuters) - The Nigerian naira strengthened against the U.S. dollar on the interbank market on Wednesday following the central bank's decision to sell the greenback directly to bureaux de change in a move to curb speculative bids. The central bank told lenders it would sell $10 million each to all banks operating a bureau de change, a move which reduced demand on the interbank market and caused the local currency to appreciate. The regulator on Friday lifted a ceiling on dollar purchases by bureaux de change from banks, prompting a rush of demand for dollars on the interbank market and weakened the local currency to its lowest in two months on Monday. The naira closed at 154.30 to the dollar on the interbank market, tightening up from 156 on Tuesday as some energy firms sold dollars to selected banks. |
| Business › Re: How Much Did You Exchange The Dollar For Today? by BOMANY: 2:48am On Aug 25, 2011 |
support4u:Thanks, nice advice |
| Foreign Affairs › Re: Have Libyans Made A Huge Mistake By Removing Gaddafi? by BOMANY: 1:43am On Aug 25, 2011 |
Men! Do you know what are you talking about or just a parrot repeats lies without sense. Do you want facts, here are some; 1- For many years, Gaddafi hanged thousands of youths in universities and stadium and showed it alive on TV terrifying anyone to say anything against him 2- In the last revolution, he killed over 30 thousand civilians and 70 thousand are injured 3- The population Libya is about 6 million, with income last year from gas and oil about 6 billion dollars which means that one million US dollars per annum for everyone. Then the 60 thousands is nothing actually. Moreover, when you visit Libya, you wont see a rich country, in fact many Libyans were poorly suffering while Gaddafi was spreading their country’s fortune on other countries just to be stated the big leader, the king og all kings …. bla bla bla 4- He changed the name, flag, national anthem …etc of his country just to fit his sick imagination, even he imposed his silly “Green Charter” on his people claiming that it is the only book that can take man to the right path. Paragraphs of the book used to be broadcasted on Libyan Radio for years. If I keep talking about him sick de-mentality, I will need thousand pages. I wouldn’t call him a tyrant but just as he is called in the Arab world “The Crazy Man”. No one there took him seriously |
| Foreign Affairs › Re: Have Libyans Made A Huge Mistake By Removing Gaddafi? by BOMANY: 1:41am On Aug 25, 2011 |
playmode=topic=743332.msg9000770#msg9000770 date=1314231660:  |
| Politics › Re: Okonjo-iweala Announces Fuel Subsidies Will Be Removed - GEJ Please Sack Her Now by BOMANY: 12:54am On Aug 25, 2011 |
Last year, Govt was marketing the removing of what is so called fuel subsidizing despite the fact that fuel price is the highest amongst OPEC countries. But when the Arab countries started their uprising mainly because of economic difficulties beside the political situation, everybody here swallowed his tongue and shut mouth. Better she talks about the allowances of Senate, House Reps and Govt |
| Business › Re: How Much Did You Exchange The Dollar For Today? by BOMANY: 7:34pm On Aug 24, 2011 |
Fhemmmy:Actually I discovered that my wife has GTB bank master card since she was in nysc youth service and she kept using as it is beside our house, so I just applied for new one so it will not be activated when I send it. She asked in the bank if she can use it abroad they said yes. next week we will put like 1.7m to see if we can change it. anyway, I will let you now if i have any news |
| Business › Re: How Much Did You Exchange The Dollar For Today? by BOMANY: 4:18pm On Aug 24, 2011 |
Fhemmmy:Thanks for exposing a hidden side. I forgot about the daily limits of drawing. However, I will send the card to my brother as he has an authenticated legal authorization to represent me to banks and use my bank accounts and credit cards. Thank God I made it, now it is time to use it |
| Business › Re: How Much Did You Exchange The Dollar For Today? by BOMANY: 4:02pm On Aug 24, 2011 |
gowaga68:At Last good news, just after Dr. Iwela started her new post few days ago. I hope it wont stop before going back to 150s, and kick that Sanusi out |
| Business › Re: How Much Did You Exchange The Dollar For Today? by BOMANY: 11:38pm On Aug 23, 2011 |
I thought the whole process; drawing the money, goes through ATM machine. If it is through machines, it means the identity of the person who draws the money doesnt matter. So pliz enlighten me if this is just a fairy story in my head By the way, I HEARD that the price today in Abuja was 161. I HEARD that from a banker in Abuja but I am not sure. It might mean that the dollar is coming down, Ameen  |
| Business › Re: How Much Did You Exchange The Dollar For Today? by BOMANY: 1:50am On Aug 23, 2011 |
Fhemmmy:My bro, I don’t know how and who might think it is stolen if you receive the credit card abroad. The problem is how to transfer it from a country to another in secured way that it wont fall in wrong hands who would wipe off your account. Of course, the best way is to get it by your immediate family members, as you suggested. However, for me this option is not available now, my mother in law just traveled to US last June, just before deterioration. So, I have to come up with another plan of how I send it to my trustworthy family members. One of the best advices I got on internet is to issue new card and keep un-activated and when your people receive, you activate it, so even if it falls in wrong hands, it will be useless. Good luck |
| Business › Re: How Much Did You Exchange The Dollar For Today? by BOMANY: 9:08pm On Aug 22, 2011 |
Fhemmmy:There is no secret my bro, itis the same as i got from this forum; the credit card but the question is how to get it abroad without traveling there. One may think it is easy issue but it is not |
| Business › Re: How Much Did You Exchange The Dollar For Today? by BOMANY: 6:18pm On Aug 22, 2011 |
hoppysnd:Seems things are deteriorating, i dont know what is the point of what is the government doing? Anyway, I am trying other alternatives, May God help me to succeed , Ameen |
| Business › Re: How Much Did You Exchange The Dollar For Today? by BOMANY: 6:11pm On Aug 22, 2011 |
Horayce:What bank pliz |
| Business › Re: How Much Did You Exchange The Dollar For Today? by BOMANY: 5:28pm On Aug 16, 2011 |
[size=14pt] Ok, about the 3 months gap, I confirmed now that it is for those who have residential visa. Let’s say u are in US so u got a visa that covers like 2 years, then u can collect 4000$ for a corporate account every three months if u have a confirmed ticket[/size] |
| Business › Re: How Much Did You Exchange The Dollar For Today? by BOMANY: 5:19pm On Aug 16, 2011 |
[size=14pt]Sorry guys, every time I tried to post, there was that message that I am auto- banned by such anti-spam bot, I don’t know why. That is why u see my post is repeated [/size] Fhemmmy:[size=14pt]4000$ for every visa, the bank shall stamp your passport for collecting the money, but if you have connection in the bank, they wont stamp urs. Some bankers told me that there must be a 3 months gap between each collection but I don’t think so. If u have a visa & passport, then u are eligible for the hard currency.[/size] |
| Business › Re: How Much Did You Exchange The Dollar For Today? by BOMANY: 5:53pm On Aug 14, 2011 |
Bisbelcall: Fhemmmy:This is the INTERBANK price, which is little bit higher than the CBN price but much lower than the black market price. Most websites show it as it is easier to know than the black market. When you use a credit card abroad or online purchase hard currency, your bank sells you depending on the Interbank price on a competitive ground. Some banks are greedy like Zenith that sells you 160N = 1$, but some are ok like GTB as selling 155N = 1$. the only way to get $ on base of the CBN price is to buy it through your bank from the CBN, which happens only, as much as I know, through two ways (1) to open LC for importation, which goes thru long way of procedures (2) as a travler with visa and confirmed ticket, actually both can be forged, but it gives you only 2000$ for a personal account and 4000$ for a corporate account I do nt think that the situation will be better in the nearest future, my experience tells me so, I lost hope. In fact I hope that it wont deteriorate more, at least till I bring my next deal, Please God |
| Business › Re: How Much Did You Exchange The Dollar For Today? by BOMANY: 2:09pm On Aug 14, 2011 |
Bisbelcall: Fhemmmy:This is the INTERBANK price, which is little bit higher than the CBN price but much lower than the black market price. Most websites show it as it is easier to know than the black market. When you use a credit card abroad or online purchase hard currency, your bank sells you depending on the Interbank price on a competitive ground. Some banks are greedy like Zenith that sells you 160N = 1$, but some are ok like GTB as selling 155N = 1$. the only way to get $ on base of the CBN price is to buy it through your bank from the CBN, which happens only, as much as I know, through two ways (1) to open LC for importation, which goes thru long way of procedures (2) as a travler with visa and confirmed ticket, actually both can be forged, but it gives you only 2000$ for a personal account and 4000$ for a corporate account I do nt think that the situation will be better in the nearest future, my experience tells me so, I lost hope. In fact I hope that it wont deteriorate more, at least till I bring my next deal, Please God |
| Business › Re: How Much Did You Exchange The Dollar For Today? by BOMANY: 10:31pm On Aug 10, 2011 |
hoppysnd:Silly joke  |
| Business › Re: How Much Did You Exchange The Dollar For Today? by BOMANY: 6:11pm On Aug 08, 2011 |
shawonlese:Thanks, after all it is better than the market payless:Yesooooo pls |
| Business › Re: How Much Did You Exchange The Dollar For Today? by BOMANY: 4:09pm On Aug 07, 2011 |
shawonlese:Why do nt you generalize the info here to benifit every1 and every1 will pray God to bless you as we prayed for Blink, pleazzzzzz |
| Business › Re: How Much Did You Exchange The Dollar For Today? by BOMANY: 6:25pm On Aug 04, 2011 |
wafer247: support4u:The gap is too much; 4 Naira means every 1000$ 4000 Naira difference, and it is confusing one unless ABUJA client was selling not buying liujenny:Do you really believe so, or just delude yourself  |
| Business › Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by BOMANY: 3:56pm On Aug 02, 2011 |
dannywest:Do you mean, bought on line and paid by mastercard, or you bought dollar cash!!  |
| Business › Re: How Much Did You Exchange The Dollar For Today? by BOMANY: 2:50pm On Aug 01, 2011 |
stagger:Thanks bro, It means, it is coming down small small, We pray God that it wont stop before 150s, Ameen |
| Business › Re: How Much Did You Exchange The Dollar For Today? by BOMANY: 1:54pm On Jul 29, 2011 |
CBN to raise limit on forex sales to BDCs JULY 28, 2011 – (VANGUARD NEWSPAPER) The Central Bank would soon review upward the limit on banks’ autonomous foreign exchange sales to bureaux de change (BDC). The apex bank indicated this in the communiqué issued at the end of the monetary policy committee (MPC) on Tuesday. It will be recalled that the apex bank last month limited the amount of autonomous foreign exchange each bank could sell to BDCs to $250,000 on banks’. The policy though occasioned the appreciation of the naira in the official and interbank market; it however triggered depreciation of the naira in the parallel market. This development widened the gap between the official and parallel market rates to N11.19 on Tuesday from N4.19 on June 24th when the limit was introduced. The widening gap however triggered round-tripping of foreign exchange from the interbank market to the parallel market. Commenting on this development, the MPC of the CBN said, “At the wDAS, the exchange rate closed at N151.61 (including the 1% commission) on 22nd July, 2011, representing an appreciation of 2.14 per cent over the N154.91/US$ on 23rd May, 2011. The Inter-bank selling rate opened at N156.67/US$ on 23rd May, 2011 and closed at N152.33 N152.33 on 22nd July, 2011, representing an appreciation of 2.77 per cent. At the BDC segment of the market, the exchange rate closed at N166.00/US$ on 22nd July, 2011, representing a depreciation of 4.40 per cent over the opening rate of N159.00/US$ on 23rd May, 2011. In the light of this, the Committee noted that the premium between the rates at the wDAS and the interbank rate narrowed towards the end of the review period, while that between the wDAS and the BDCs widened which is not unconnected with the measures taken to limit sales to BDCs. However, while strengthening of currency is an important factor in mitigating inflationary pressures, the spread may lead to arbitrage by players and fuel unhealthy speculation. “The Committee commended the CBN for the limit placed on the foreign exchange sales to the BDCs. However, in view of the widening premium between the wDAS and BDC rates, the Committee encouraged the CBN to review the existing limit. The decision and communication in this regard will be made by the Bank.” On the external reserves, “The Committee noted the modest accretion to external reserves in recent months, but remained concerned about the sustained low level of accretion in the face of higher oil output, higher oil exports volume and higher oil prices. Gross external reserves stood at US$33.73 billion as at 21st July, 2011, representing an increase of US$1.84 billion or 5.77 per cent over the level attained on 30th June, 2011. Given that the current oil price level may not be sustained in the event of a slowdown in global economic recovery, the Committee reiterated the need for pursuing policies to foster macro-economic stability, economic diversification as well as encouraging foreign capital inflows.” ----------------------------------------------------------------------------------------- This might mean more dollars in the parallel market, which may lead to appreciation of Naira to come close to the official rate as before. However, it might be only in my imagination to find them coming out with another idiotic decision |
| Business › Re: How Much Did You Exchange The Dollar For Today? by BOMANY: 10:51pm On Jul 28, 2011 |
CBN to raise limit on forex sales to BDCs The Central Bank would soon review upward the limit on banks’ autonomous foreign exchange sales to bureaux de change (BDC). The apex bank indicated this in the communiqué issued at the end of the monetary policy committee (MPC) on Tuesday. It will be recalled that the apex bank last month limited the amount of autonomous foreign exchange each bank could sell to BDCs to $250,000 on banks’. The policy though occasioned the appreciation of the naira in the official and interbank market; it however triggered depreciation of the naira in the parallel market. This development widened the gap between the official and parallel market rates to N11.19 on Tuesday from N4.19 on June 24th when the limit was introduced. The widening gap however triggered round-tripping of foreign exchange from the interbank market to the parallel market. Commenting on this development, the MPC of the CBN said, “At the wDAS, the exchange rate closed at N151.61 (including the 1% commission) on 22nd July, 2011, representing an appreciation of 2.14 per cent over the N154.91/US$ on 23rd May, 2011. The Inter-bank selling rate opened at N156.67/US$ on 23rd May, 2011 and closed at N152.33 N152.33 on 22nd July, 2011, representing an appreciation of 2.77 per cent. At the BDC segment of the market, the exchange rate closed at N166.00/US$ on 22nd July, 2011, representing a depreciation of 4.40 per cent over the opening rate of N159.00/US$ on 23rd May, 2011. In the light of this, the Committee noted that the premium between the rates at the wDAS and the interbank rate narrowed towards the end of the review period, while that between the wDAS and the BDCs widened which is not unconnected with the measures taken to limit sales to BDCs. However, while strengthening of currency is an important factor in mitigating inflationary pressures, the spread may lead to arbitrage by players and fuel unhealthy speculation. “The Committee commended the CBN for the limit placed on the foreign exchange sales to the BDCs. However, in view of the widening premium between the wDAS and BDC rates, the Committee encouraged the CBN to review the existing limit. The decision and communication in this regard will be made by the Bank.” On the external reserves, “The Committee noted the modest accretion to external reserves in recent months, but remained concerned about the sustained low level of accretion in the face of higher oil output, higher oil exports volume and higher oil prices. Gross external reserves stood at US$33.73 billion as at 21st July, 2011, representing an increase of US$1.84 billion or 5.77 per cent over the level attained on 30th June, 2011. Given that the current oil price level may not be sustained in the event of a slowdown in global economic recovery, the Committee reiterated the need for pursuing policies to foster macro-economic stability, economic diversification as well as encouraging foreign capital inflows.” http://www.vanguardngr.com/2011/07/cbn-to-raise-limit-on-forex-sales-to-bdcs/ This might mean good news. If the CBN will review the limits policy to the BDCs, it means more dollars will go in the stream in the market and the dollar will ease in the parallel market to come close to the official rate as before. However, it might be only in my imaginations to find them coming out with another demonic ideas |
| Business › Re: How Much Did You Exchange The Dollar For Today? by BOMANY: 4:56pm On Jul 25, 2011 |
blink182:Thanks a lot,  you have been much help . you can imagine that the 40.000$ annual limits means 4,000$ extra cost if you change from mallams with the recent high rate, every dollar costs 15 naira more blink182:Pls heep posting us |
| Business › Re: How Much Did You Exchange The Dollar For Today? by BOMANY: 1:36pm On Jul 23, 2011 |
Fhemmmy:Thanks, for your help pls Blink correct |
| Business › Re: How Much Did You Exchange The Dollar For Today? by BOMANY: 12:10am On Jul 23, 2011 |
@ blink182 Pls, I need more clarifications about that master card matter: 1- I understood that I put Naira here in my master card and when I travel abroad I can draw CASH whatever the currency is there, did I get it right? Or I can only buy goods there. 2- Is it only GTB where I can get that card or other banks 3- Is it just master card or can be visa card Sorry for my ignorance |
| Business › Re: How Much Did You Exchange The Dollar For Today? by BOMANY: 4:16pm On Jul 19, 2011 |
Fhemmmy:Exactly, sometimes one wonders if there is any type of control or good governance of our parastatals or everyone behaves as if it is his own property |
