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Nairaland Forum / Nairaland / General / Business / CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 (20781 Views)
CBN Sells Fresh Dollars To Bdcs At N1,021/$ / CBN Sells Over $300m To Banks As Naira Gains / CBN Sells Dollars To Banks For First Time In 5 Months (2) (3) (4)
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Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by godwinngbede: 1:43pm On Apr 08 |
Elliotwaveforec:this is not black market, it cryptocurrency na |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by agrowell: 1:47pm On Apr 08 |
Raylight2: Because you don't know the implementation |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by teewhydope(m): 1:48pm On Apr 08 |
PriceActionZ: what happened to the one they bought last year at 500 and inflated to 1400 1 Like |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by DMerciful(m): 1:54pm On Apr 08 |
Common, it has nothing to do with speculators. It has everything to do with returning to Emefiele's policy of defending the naira with our reserves. This is a simple stuff, why do you guy behave ignorantly? INTEGRITYA1: |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by ViktorCash: 1:54pm On Apr 08 |
This is exactly what Buhari did with Emefiele. "Pegging the dollar". It's a pity that BAT is pegging it over 1,000 Naira compared to less than 500 Naira under Buhari |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by effectz123(m): 1:55pm On Apr 08 |
clarocuzioo: How much is CBN using to defend the naira. Please calculate it. How much dollars to 10,000 BDC weekly? It's not even up to 100 million dollars. Is that how to defend the naira? 2 Likes |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by DMerciful(m): 1:56pm On Apr 08 |
Why are you gaslighting yourself? You have returned to Emefiele's policy of defending the naira with reserves. Lets see how long they can return to their vomit LegendHero: 1 Like |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by LegendHero(m): 1:57pm On Apr 08 |
DMerciful: I love una tears 😭. At least now you can’t condemn the naira rates, you have now stylishly gone to wailing about defense. May the tears be permanent because Naira will keep rising. 5 Likes 1 Share |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by REALretep(m): 1:58pm On Apr 08 |
So Tinubu government is back to square one... subsidizing dollars The number of policy reversals this government has made eehhhh SMH 1 Like |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by fuckJones(f): 1:58pm On Apr 08 |
if CBN open our Naira cards for limited FX payments, they will be no BDCs again, most of this aboki will return to farm 7 Likes |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by freemi(m): 2:00pm On Apr 08 |
Why can't CBN sell d dollars themselves to eligible buyers why sell to bdc first. Eligible buyers Shud b able to walk to banks to buy dollar. Why make bdc middlemen 3 Likes |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by CodeTemplar: 2:03pm On Apr 08 |
Owon:Naira was created for Nigeria. That old arrangement of using Naira based cards to buy dollar pricesd goods was enabled by availability of Forex then. Forex is scare now. there is competition and awareness for Forex now. 1 Like |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by 4words: 2:05pm On Apr 08 |
Owon: I have 1000$ cash I will sell at 1280 naira |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by AngelicBeing: 2:08pm On Apr 08 |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by optimusprime2(m): 2:11pm On Apr 08 |
Na foreign reserves CBN dey carry do dagbo... I am just smiling |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by DMerciful(m): 2:12pm On Apr 08 |
I don't understand you guys. Tinubu removed petrol subsidy, una hail am. He returned petrol subsidy, una hail am even more. Tinubu removed naira defense, una hail am, he returned it, una hail am even more. Tell me what Fela called Zombie? LegendHero: 1 Like |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by LegendHero(m): 2:15pm On Apr 08 |
DMerciful: Which subsidy and naira defense? What is subsidy? 3 Likes |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by Misterone: 2:20pm On Apr 08 |
grandstar:You guys like thinking like kids! So you expect the CBN to be pilling up dollars while people are in need of it? Who saves when his family is hungry! Only a fool does that. 4 Likes |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by DMerciful(m): 2:21pm On Apr 08 |
Seriously? Never knew that you are this ignorant. LegendHero: |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by LegendHero(m): 2:26pm On Apr 08 |
DMerciful: Our engagements always reduce my IQ bit by bit, that’s why I am this ignorant. It’s not my fault. |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by latonione: 2:26pm On Apr 08 |
The first time for a very long time that the CBN is actually in control of fx rates. Kudos to Cardoso. Both the parallel and official rate almost harmonized. Great, kudos to Cardoso 3 Likes |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by Kukutenla: 2:26pm On Apr 08 |
LegendHero:Which managed float took naira from N400 to over N1500 under seven months You must have been under a rock when official rates was at 1500 and parallel rates was at 1800. The rates did not converge under Emefiele but they were largely stable and predictable. You don't need to devalue before your rates converge. That was a horrendous mistake that distorted the market and eroded the purchasing power of Nigerians. It's not about naysayers. That's the point you political hillbillies usually fail to understand Economy is not a political game. The naira is at over a 1000naira after losing over 300% of its value under a year is not good news to anyone |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by Lordsonn: 2:29pm On Apr 08 |
rinzaugustine:That's what many people do not understand. Naira is not really gaining as portrayed. Government borrowed dollars, sell to BDCs at subsidized rate and asked them to sell to end users at a particular rate. Any day this government stop borrowing and selling to BDCs, naira will crash and exchange rate will increase. Only significant export will stabilize naira 1 Like |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by Lordsonn: 2:34pm On Apr 08 |
ignis:That's what many people do not understand. Naira us not really gaining as portrayed. Government borrowed dollars, sell to BDCs at subsidized rate and asked them to sell to end users at a particular rate. Any day this government stop borrowing and selling to BDCs, naira will crash and exchange rate will increase. Only significant export will stabilize naira |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by drlateef: 2:34pm On Apr 08 |
Owon: You are very much behind in information gathering. They must not sell beyond 1173/$ to you now. But you can’t get physical cash. They pay directly into a bank account abroad. Banks are also selling forex but they must also pay to your account abroad. The rules have changed. 2 Likes |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by RenaissanceGuy: 2:35pm On Apr 08 |
Kukutenla:So, in all of this, you're angry that the dollar rate has gone from 1,900 to 1,100 and poised to go down further?? 4 Likes |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by DMerciful(m): 2:37pm On Apr 08 |
If you don't know that subsidy is currently being paid and the naira is being defended, then you should abandon political section and go to religion section. No wonder you guys believed fuel at N87 is not cheap enough, that it should be N40. LegendHero: 1 Like
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Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by Lordsonn: 2:37pm On Apr 08 |
optimusprime2:That's what many people do not understand. Naira iss not really gaining as portrayed. Government borrowed dollars, sell to BDCs at subsidized rate and asked them to sell to end users at a particular rate. Any day this government stop borrowing and selling to BDCs, naira will crash and exchange rate will increase. Only significant export will stabilize naira 1 Like |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by LegendHero(m): 2:38pm On Apr 08 |
DMerciful: How much PDP meet fuel and $$ for 1999? Let’s start from there. You see why I said you’re reducing my IQ? 1 Like |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by iamtoofan: 2:39pm On Apr 08 |
clarocuzioo: As long as it a temporary measure .. its Ok, at the moment to priority is to restore "SANITY" to the parrel market and displace saboteurs If we deplete our foreign reserve to build an enabling market that will reinstate forces of DD and SS i think its worth it 2 Likes |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by Kukutenla: 2:39pm On Apr 08 |
RenaissanceGuy: Learn to read and understand What I am saying is that we need not go 1900 in the first place. Unifying the rates does not automatically mean you devalue the naira. So many things were done wrong in a bid to appear different from the previous govt which created so much distortion in the system Who is bearing the brunt now? How do they recover? |
Re: CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1 by DMerciful(m): 2:40pm On Apr 08 |
Focus! Is subsidy being paid or not? Is the naira defended or not? No run along. I know you know but trying to deceive people. Percentage increase of petrol under PDP was fairer LegendHero: |
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