Is Our Foriengn Exchange Rate Really 1 Naira To 280 Dollars? - Business - Nairaland
Nairaland Forum › Nairaland General › Business › Is Our Foriengn Exchange Rate Really 1 Naira To 280 Dollars? (964 Views)
| Is Our Foriengn Exchange Rate Really 1 Naira To 280 Dollars? by tonymorris(op): 1:19pm On Dec 26, 2015 |
What is the truth behind our FX rate we have been crying that the value of the Naira have been dropping and currently stands at #1 = $280 but as at today(day of posting this) 26/12/2015 information from google and exchangerates.uk indicates in the pic below that a naira equates to $199. Who do i believe then and what is truly going on can someone please explain 1 Like
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| Re: Is Our Foriengn Exchange Rate Really 1 Naira To 280 Dollars? by mployer(m): 1:28pm On Dec 26, 2015 |
Bro, it is like pricing your commodity cheap but refusing to sell because you know you will surely loose. CBN pegged the rate at 199 but refused to sell because they know it is not sustainable, so the black market revealed the exact rate by selling at 280. Even banks sell 275-280 presently. 1 Like |
| Re: Is Our Foriengn Exchange Rate Really 1 Naira To 280 Dollars? by Nobody: 1:42pm On Dec 26, 2015 |
199 is the Interbank Official Market Rate. But the parallel rate is 280.. CBN held that rate but refused to sell dollars because they will loose. So the actual selling rate is 280 but some banks are 269 (like gtb |
| Re: Is Our Foriengn Exchange Rate Really 1 Naira To 280 Dollars? by tonymorris(op): 5:47pm On Dec 27, 2015 |
Strahovski:thanx |
Exchange Rate As Of Today • Forex: CBN Throws Naira Into Open Market, Nullifies N197/$ Exchange Rate • Naira In Free Fall, Slides To 280 Against Dollar - PUNCH • 2 • 3 • 4
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