Travelex To Commence Sales Of Forex To Bdcs Today - Business (2)

Travelex To Commence Sales Of Forex To Bdcs Today - Business (2) - Nairaland

Nairaland Forum › Nairaland General › Business › Travelex To Commence Sales Of Forex To Bdcs Today (13940 Views)

Re: Travelex To Commence Sales Of Forex To Bdcs Today by modath(f): 7:27am On Oct 07, 2016

Miles300:
Welcome develop the Cbn should as well regulate the activites of the banks as well , u can't buy from the interbank fx markets at 310 and sell at 410 to customers , stanbic ibtc still have the best rates at 380... All of this hike in the fx rates in it's self is corruption ... Sometin should be done on this .. It's not only to chase looters ..

Stanbic stopped being 380 since late August, it was 450 as at yesterday.... kindly confirm for yourself.

4 Likes

Re: Travelex To Commence Sales Of Forex To Bdcs Today by Nobody: 7:28am On Oct 07, 2016

Ebimablog:
Hope this won't bring naira dollar rate to 400? It should remain at 500 please

I guess it will drop to N97/$. I did the calc but not sure of the result

3 Likes

Re: Travelex To Commence Sales Of Forex To Bdcs Today by Nobody: 7:29am On Oct 07, 2016

All this news I no just understanding at all

Re: Travelex To Commence Sales Of Forex To Bdcs Today by blackgig(m): 7:30am On Oct 07, 2016

Miles300:
Welcome develop the Cbn should as well regulate the activites of the banks as well , u can't buy from the interbank fx markets at 310 and sell at 410 to customers , stanbic ibtc still have the best rates at 380... All of this hike in the fx rates in it's self is corruption ... Sometin should be done on this .. It's not only to chase looters ..

Stanbic is now 450. See :http://www.stanbicibtcbank.com/

1 Like

Re: Travelex To Commence Sales Of Forex To Bdcs Today by MrMcJay(m): 7:32am On Oct 07, 2016

TsaTrinity:
I guess it will drop to N97/$. I did the calc but not sure of the result

I guess your calculator must be bad.

2 Likes

Re: Travelex To Commence Sales Of Forex To Bdcs Today by Clone2020(m): 7:32am On Oct 07, 2016*

If you want to send money to relatives in Nigeria, I will buy your dollars at the rate of N400/$ while you deposit into my US bank account. Dont even bother with western union and co, they exchange for 330/$ plus fees and delays.

All transactions are done within 1 minute.

Call or whatsapp, see contact in signature

Re: Travelex To Commence Sales Of Forex To Bdcs Today by Nuahall2k14(m): 7:34am On Oct 07, 2016

Stanbic dat won't allow u withdraw more than 50 dollars a day.. Dats rubbish.. And not more than 300 a month.

Miles300:
u can apply for there naira master card , and pay stuffs online with at the rate of 380 for a dollar ... Am not in the country I only use mine to withdraw dollar here from my master card and nd pay for online transactions at that rate and they are consistent with there rates .. For months now ..

Re: Travelex To Commence Sales Of Forex To Bdcs Today by Nobody: 7:36am On Oct 07, 2016

MrMcJay:
I guess your calculator must be bad.

Re: Travelex To Commence Sales Of Forex To Bdcs Today by Nobody: 7:36am On Oct 07, 2016

MrMcJay:
I guess your calculator must be bad.

How sir

could you explain in details

Re: Travelex To Commence Sales Of Forex To Bdcs Today by eph12(m): 7:43am On Oct 07, 2016

At what rate would they be selling?

Re: Travelex To Commence Sales Of Forex To Bdcs Today by Fogman(m): 7:49am On Oct 07, 2016

Miles300:
Welcome develop the Cbn should as well regulate the activites of the banks as well , u can't buy from the interbank fx markets at 310 and sell at 410 to customers , stanbic ibtc still have the best rates at 380... All of this hike in the fx rates in it's self is corruption ... Sometin should be done on this .. It's not only to chase looters ..

Please get your facts right. Stanbic rate is N450

2 Likes

Re: Travelex To Commence Sales Of Forex To Bdcs Today by fortunejum: 7:54am On Oct 07, 2016

david22uu:
The dollar will crash to 420n/$ in 2 weeks time

Do you think 420/dollar is fair? For me, any thing more than 300/dollar is not fair. Let's watch anywhere.

1 Like

Re: Travelex To Commence Sales Of Forex To Bdcs Today by 989900: 8:01am On Oct 07, 2016

Miles300:
Welcome develop the Cbn should as well regulate the activites of the banks as well , u can't buy from the interbank fx markets at 310 and sell at 410 to customers , stanbic ibtc still have the best rates at 380... All of this hike in the fx rates in it's self is corruption ... Sometin should be done on this .. It's not only to chase looters ..

Stanbic is 450 now!

Change Naira notes color (quite an expensive endeavor), and BDCs to only sell $ by POS should come helpful.

4 Likes 1 Share

Re: Travelex To Commence Sales Of Forex To Bdcs Today by LastProphet: 8:02am On Oct 07, 2016

modath:
I really wish i could be hopeful but the folks with billions of stolen naira stashed in safes and farms will mop up whatever is brought in with the quickness for onward transfer to their numerous foreign accounts....

Nigeria is a peculiar country, what has worked and is still working in other countries almost never do here, it's like there is something (apart from corruption duh) defective in naija's genetic makeup that just doesn't want to be great!!!

We may solely be import dependent but we all know importers don't require more than 40-50% of forex in the system, proceed of corruption is what is majorly chasing forex upandan.

if buhari can appreciate intelligent information like this he would have done things better

1 Like

Re: Travelex To Commence Sales Of Forex To Bdcs Today by Deepfreezer(m): 8:02am On Oct 07, 2016

Failed country.

Re: Travelex To Commence Sales Of Forex To Bdcs Today by OsamaB: 8:21am On Oct 07, 2016

Great

Re: Travelex To Commence Sales Of Forex To Bdcs Today by pat1612(m): 8:38am On Oct 07, 2016

CBN and its useless policy decisions stop giving dollar to bdc now start 10000 usd then increase to 15000usd. wasnt foreign remittance coming earlier this mess wont have started if in first place they would have stop selling to bdc. You broke system and then give it same fix huh

And still bdc will by at interbank rate and sell in black market so where is fun demand is much higher than supply.
Dont try to regulate which you dont want to. angry

Interbank is scam where bankers are making millions without even leaving their seats.
If they are serious they should computerize system where forex allotment is done by machine rather than human interference.all the round tripping will be reduce to minimum and only genuine importers will get usd rather than trippers.but then how will they make money. angry

My view and no offence to anybody. grin

if you are quoting me be constructive tongue

1 Like

Re: Travelex To Commence Sales Of Forex To Bdcs Today by Nobody: 8:41am On Oct 07, 2016

Just paid a trip to their site, so na this kpirikpiri company na im government wan use stabilise naira issoright

Re: Travelex To Commence Sales Of Forex To Bdcs Today by labiola: 8:50am On Oct 07, 2016

modath:
I really wish i could be hopeful but the folks with billions of stolen naira stashed in safes and farms will mop up whatever is brought in with the quickness for onward transfer to their numerous foreign accounts....

Nigeria is a peculiar country, what has worked and is still working in other countries almost never do here, it's like there is something (apart from corruption duh) defective in naija's genetic makeup that just doesn't want to be great!!!

We may solely be import dependent but we all know importers don't require more than 40-50% of forex in the system, proceed of corruption is what is majorly chasing forex upandan.

I keep telling people that care to listen that the rising in dollar exchange to naira is artificial and man made. Who are the people that are buying dollar? how many people are importing things into the country now that made dollar to be on high side . The truth is that most of our politicians are mopping up the dollars, it is easier for them to carry dollar around than naira. They transfer billion to the accounts of this mallams in exchange for dollar at any price. I know one day that Naira will find its true value.

3 Likes 1 Share

Re: Travelex To Commence Sales Of Forex To Bdcs Today by wristbangle: 8:50am On Oct 07, 2016

modath:
I really wish i could be hopeful but the folks with billions of stolen naira stashed in safes and farms will mop up whatever is brought in with the quickness for onward transfer to their numerous foreign accounts....

Nigeria is a peculiar country, what has worked and is still working in other countries almost never do here, it's like there is something (apart from corruption duh) defective in naija's genetic makeup that just doesn't want to be great!!!

We may solely be import dependent but we all know importers don't require more than 40-50% of forex in the system, proceed of corruption is what is majorly chasing forex upandan.

My dear sister, you have said it all. The stench of the corruption transcend from corporate entities like banks, smes, etc to individuals such as polithievan, BDC et.Al. This has not made us know the real value of naira hence the free fall.

2 Likes 1 Share

Re: Travelex To Commence Sales Of Forex To Bdcs Today by kolaaderin: 8:59am On Oct 07, 2016

alizma:
God bless you dear. can you just imagine that $450m is expected to have significant impact on the exchange rate when those thieves we call leaders have our stolen billions of dollars in there person account elsewhere. unfortunately most of the BDCs are owned by these unscrupulous people. the moment this money is released, the next thing they do is raise fictitious receipt to mop it up for onward transfer to their foreign account then the country finds itself in square one again.

This is the more reasons we can't stop blaming GEJ , the problem he created will be with us for some good numbers of years. Money starched away in trillions of naira, I wanna break that IB forehead with a blank. angry

Re: Travelex To Commence Sales Of Forex To Bdcs Today by Caseless: 9:29am On Oct 07, 2016

Truth234:
That is why Travelex introduced compulsory biometric registration before selling to BDC operators. It will curb their activities to some extent and help boost liquidity in the market. Maybe that is why some of the BDC operators are reluctant to register.

Don't forget Travelex also sell dollars as well, so this move will ease the economic gridlock. Just the announcement already bolstered Naira value on the parallel market.

you the same corrupt guys hoarding the dollar are the owners of this bdc ? They should all be scrapped.

Re: Travelex To Commence Sales Of Forex To Bdcs Today by Krucifax(m): 9:40am On Oct 07, 2016

Truth234:
That is why Travelex introduced compulsory biometric registration before selling to BDC operators. It will curb their activities to some extent and help boost liquidity in the market. Maybe that is why some of the BDC operators are reluctant to register.

Don't forget Travelex also sell dollars as well, so this move will ease the economic gridlock. Just the announcement already bolstered Naira value on the parallel market.

Whilst it's a good idea to check dollar hoarders you can be rest assured they'll find a way to beat it.
Now here's the real truth. Forex manipulation like Inconsistent electricity supply is here to stay for the long term.
The reason is simple. Powerful and wicked elements in society have discovered that it's a fantastic way of creating wealth. It's also become an addiction. These elements have slush funds of stolen billions in naira. What they do is buy up available dollars. This leads to dollar scarcity. This dollar scarcity in effect doubles the value of the dollars they've already bought.
It then becomes a vicious circle.
What a lot of people haven't woken up to yet is that Forex is the now new Crude oil for the elite.

Re: Travelex To Commence Sales Of Forex To Bdcs Today by fashrola(m): 9:54am On Oct 07, 2016

Miles300:
Welcome develop the Cbn should as well regulate the activites of the banks as well , u can't buy from the interbank fx markets at 310 and sell at 410 to customers , stanbic ibtc still have the best rates at 380... All of this hike in the fx rates in it's self is corruption ... Sometin should be done on this .. It's not only to chase looters ..

StanbicIBTC? When last did u use their card for transaction?
It's N450 - $1 now ooo

Re: Travelex To Commence Sales Of Forex To Bdcs Today by cuteboy2: 10:16am On Oct 07, 2016

Recycled news. This stale new was first published by the same same website "Investorsking.com" in January 2016. See link below

https://www.nairaland.com/2864650/cbn-replace-local-bureau-de-changes-travelex

Ten months after it is being dug up again by government moles in social media sites to deceive and give people false hope and impression that govt is doing something about the economy.

Ten months after it was first mooted, it is still "will", "to", "shall".
When will implementation begin? Every policy of this govt is futuristic. For them, the future never comes. But can they stop the hands of the clock? Never!! 2019 looming.

1 Like

Re: Travelex To Commence Sales Of Forex To Bdcs Today by oblo(m): 10:33am On Oct 07, 2016

divide9ja:
PLEASE NIGERIANS, LETS GIVE RESPECT WHERE RESPECT IS DUE!

IT TAKES TALENT TO MAKE NIGERIA GO FROM THE 4TH WORLDS GROWING ECONOMY TO RECESSION IN LESS THAN A YEAR!

IT TAKES TALENT TO MAKE NAIRA LOOSE MORE THAN TWICE IT'S VALUE IN LESS THAN A YEAR!
I MEAN WHEN B00HARI GOT IN, NAIRA WAS N216 TO $1, NOW IT'S N495 TO $1
https://i.imgur.com/tGiV5ky.jpg

NOT EVEN ABACHA COULD DO THIS!

IT ALSO TAKES A SPECIAL MAN TO BE TOTALLY UNEDUCATED, YET RULING THE EDUCATED.

NOT FORGETTING THAT HE IS DEAF

I MEAN B00HARI IS AN ENGIMA , WORTHY TO BE STUDIED

Abeg whete dem dey exchange for 495 per dollar..I get dollar to sell angry

Re: Travelex To Commence Sales Of Forex To Bdcs Today by omorttee4u(m): 10:39am On Oct 07, 2016

This is the nice step so far. No more scarcity. You sell base on the availability. Govt. Has to make it available if they truly want to tackle the Economic crises through this means.

Re: Travelex To Commence Sales Of Forex To Bdcs Today by cuteboy2: 10:53am On Oct 07, 2016

Please help us ask these morons: Where will Travelex get the dollars from? Is it not from the same CBN that does not have enough?

Why bring in another middle man to distribute a product that is already very scarce? Won't that create even more room for cronyism and skimming off, and padding.

Does this govt even realise they are indirectly fueling corruption by their clueless policies?

Re: Travelex To Commence Sales Of Forex To Bdcs Today by Heffalump(m): 11:12am On Oct 07, 2016

modath:
I really wish i could be hopeful but the folks with billions of stolen naira stashed in safes and farms will mop up whatever is brought in with the quickness for onward transfer to their numerous foreign accounts....

Nigeria is a peculiar country, what has worked and is still working in other countries almost never do here, it's like there is something (apart from corruption duh) defective in naija's genetic makeup that just doesn't want to be great!!!

We may solely be import dependent but we all know importers don't require more than 40-50% of forex in the system, proceed of corruption is what is majorly chasing forex upandan.

Thank you for this insightful and realistic opinion. This is what the stupi*d wailers don't know or choose not to know about the truth, and are very quick in apportioning blames on the APC led Government. The evil we see today was inflicted upon us by poor governance of the past administration of PDP, of which these wailers strongly seek to defend. I am not surprise, they have stolen money enough to fight this internet war by sponsoring gullible youths who have lost memory of the past. Shame on them; shame on GEJ; shame on PDP. Nonsense!

3 Likes 1 Share

Re: Travelex To Commence Sales Of Forex To Bdcs Today by CandyDiamond(f): 11:43am On Oct 07, 2016

Travelex is dead on arrival, next pls

Re: Travelex To Commence Sales Of Forex To Bdcs Today by SirAweezy(m): 12:41pm On Oct 07, 2016

This still wouldn't help the Naira...

1 2 Reply

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