CBN Introduces New FX Rate For Bdcs - Business

CBN Introduces New FX Rate For Bdcs - Business - Nairaland

Nairaland Forum › Nairaland General › Business › CBN Introduces New FX Rate For Bdcs (29890 Views)

CBN Introduces New FX Rate For Bdcs by Truth234(op): 2:41pm On Mar 28, 2017

The Central Bank of Nigeria has reviewed down the rate at which it was selling dollars to Bureau De Change operators nationwide.

President, Association of Bureau De Change Operators of Nigeria, Alhaji Aminu Gwadabe, told the News Agency of Nigeria in Lagos on Tuesday that the buying rate for BDCs would now be N350 and would sell at N360 to the dollar.

Before now, BDCs were buying dollars from the CBN at a forward rate of N381 to the dollar and selling at N399 to the dollar.

Gwadabe commended the CBN for heeding the appeal of BDCs for a level playing field for all players in the foreign exchange market.

The ABCON chief pledged the commitment of all BDCs in collaborating with the apex bank to sustain the gains recorded by naira against the dollar.

The CBN, had on Monday, pegged the selling rate for Deposit Money Banks at N360 to the dollar.

The CBN had injected close to two billion dollars since it started its intervention in the foreign exchange market five weeks ago.

Efforts of the apex bank have crashed dollar rates at the parallel market to between N375 in Lagos and N365 in Abuja.

The CBN said it determined to crush speculators in the market and ensure that genuine foreign exchange seekers have access to foreign currencies with ease.

http://investorsking.com/cbn-introduces-new-fx-rate-for-bdcs/

1 Like 1 Share

Re: CBN Introduces New FX Rate For Bdcs by Nick4life: 2:51pm On Mar 28, 2017*

Bdc go soon start to make money again. Our export rate never increase to make money stable wen cbn no get money to pumb into the market. Once e reach 300 I go equip my bitcoin acc they wait 4 the sharp rise undecided

.
Every reasonable economics for nairaland understands wat am saying

24 Likes 1 Share

Re: CBN Introduces New FX Rate For Bdcs by TonyeBarcanista(m): 2:54pm On Mar 28, 2017

Thank God that the Naira is rising against the dollar in the parallel market, but Nigerians have made up their mind to kick out Buhari and APC in 2019.... No going back

105 Likes 7 Shares

Re: CBN Introduces New FX Rate For Bdcs by Nobody: 2:54pm On Mar 28, 2017

Good news, keep it up CBN, but don't come up with another story tomorrow o.

1 Like

Re: CBN Introduces New FX Rate For Bdcs by TonyeBarcanista(m): 2:55pm On Mar 28, 2017

NgeneUkwenu, no blame PDP o....

7 Likes 1 Share

Re: CBN Introduces New FX Rate For Bdcs by Justuceleague2: 2:57pm On Mar 28, 2017

Thank God

Re: CBN Introduces New FX Rate For Bdcs by Nobody: 2:58pm On Mar 28, 2017

Nigerian are quick to increase the price of goods and blame it on increase in dollar rate. Now its dropping and price of things are still high. Are we to blame govt again for that?

84 Likes 5 Shares

Re: CBN Introduces New FX Rate For Bdcs by NgeneUkwenu(f): 3:06pm On Mar 28, 2017

2 Likes

Re: CBN Introduces New FX Rate For Bdcs by TonyeBarcanista(m): 3:08pm On Mar 28, 2017

Na your way na... Una for APC go return to opposition in 2019

7 Likes 1 Share

Re: CBN Introduces New FX Rate For Bdcs by TonyeBarcanista(m): 3:10pm On Mar 28, 2017

Thing is most of the wares in the market are old stocks

27 Likes 1 Share

Re: CBN Introduces New FX Rate For Bdcs by Adesiji77: 3:19pm On Mar 28, 2017

Speculator's nightmare....

3 Likes 1 Share

Re: CBN Introduces New FX Rate For Bdcs by Nobody: 3:24pm On Mar 28, 2017

They will never come down.

7 Likes

Re: CBN Introduces New FX Rate For Bdcs by Nobody: 3:24pm On Mar 28, 2017

That's all

32 Likes 1 Share

Re: CBN Introduces New FX Rate For Bdcs by Nobody: 3:26pm On Mar 28, 2017

Sarrki where are you??

8 Likes

Re: CBN Introduces New FX Rate For Bdcs by blackpanda: 3:30pm On Mar 28, 2017

[s]

[/s]

Not nigerians. Just an insignificant number of ipob wailers whose noise only ends here on nairaland.
If we conduct elections today, buhari will win over and over again.

Why? You cant buy honesty, integrity or hardwork in the market!

61 Likes 4 Shares

Re: CBN Introduces New FX Rate For Bdcs by obembet(f): 3:44pm On Mar 28, 2017

Re: CBN Introduces New FX Rate For Bdcs by lonelydora: 3:44pm On Mar 28, 2017

Please as the dollar is coming down, our sellers should also bring down prices of goods.

Why do we still buy stuffs the same price when dollar was 510 and now it's about 385?

10 Likes 2 Shares

Re: CBN Introduces New FX Rate For Bdcs by countsparrow: 3:46pm On Mar 28, 2017

Nice one, some speculators go sell mansion rent 2 bedroom apartment when d time come... Carry dis cash commot, na for all of us to spend...

3 Likes 1 Share

Re: CBN Introduces New FX Rate For Bdcs by TonyeBarcanista(m): 3:46pm On Mar 28, 2017

Those traits are yet to be seen in the Bulgari administration

3 Likes 1 Share

Re: CBN Introduces New FX Rate For Bdcs by coalcoal1(m): 3:46pm On Mar 28, 2017

nice ... This is a beautiful development ... I can now resume my car import business and take a vacation with my family later in the year

1 Like

Re: CBN Introduces New FX Rate For Bdcs by bettercreature(m): 3:46pm On Mar 28, 2017

Says the mouth piss of Voiceless 5%

19 Likes

Re: CBN Introduces New FX Rate For Bdcs by TonyeBarcanista(m): 3:47pm On Mar 28, 2017

He is in agreement

3 Likes 2 Shares

Re: CBN Introduces New FX Rate For Bdcs by eph123(f): 3:47pm On Mar 28, 2017

Take it back to where it was. Very simple.

Two years ago no one would have imagined 1 dollar would be N350.

22 Likes 2 Shares

Re: CBN Introduces New FX Rate For Bdcs by efilefun(m): 3:47pm On Mar 28, 2017

Even if APC is kicked out of Aso rock nobody go mumu vote in useless PDP, PDP worst, if we calculate all the billions PDP claimed they spent on electricity only, by now Nigerians should have forgotten the definition of "1 day on 3days off" Infact which faction of PDP Nigerians wan vote for huh

Makarfi or the okada rider faction?

32 Likes 2 Shares

Re: CBN Introduces New FX Rate For Bdcs by phkka1(m): 3:47pm On Mar 28, 2017

There may not be a significant change in the rising cost of commodities.

Re: CBN Introduces New FX Rate For Bdcs by Drabrah(m): 3:47pm On Mar 28, 2017

Goodnews. At least, for those of us wey wan fly out.
Let it keep falling Mark!

Re: CBN Introduces New FX Rate For Bdcs by GreatMahmud: 3:48pm On Mar 28, 2017

We are watching...In Bob Marleys voice, time will tell

Re: CBN Introduces New FX Rate For Bdcs by MrMcJay(m): 3:48pm On Mar 28, 2017

TonyeBarcanista, I take God beg you, do not support APC in 2019.

You supported Obanikoro for Governorship, he lost.
You supported Jonathan, he they flogged him.
you supported Jimi Agbaje, he was beaten like a drum.

You have never taken a successful political step in your life. Every political candidate you support is bound to lose. I doubt if 2019 would be an exception.

48 Likes 2 Shares

Re: CBN Introduces New FX Rate For Bdcs by johnstar(m): 3:48pm On Mar 28, 2017

G bois wil nt b happy abt dis newss grin

2 Likes

Re: CBN Introduces New FX Rate For Bdcs by laurel03(m): 3:48pm On Mar 28, 2017

it depends on candidate of opposition party.... because i never see better person from pdp..

2 Likes

Re: CBN Introduces New FX Rate For Bdcs by dhardline(m): 3:48pm On Mar 28, 2017*

Same old political strategy when you have less to offer.

Make things terrible bad then the people complain then bring it back to how it was then they hail you. All this have strategies have been written down in books and we'll get wiser as a people if we read more and learn from history.

As for me things must be better than how it was in the last administration before I hail this administration. My 2kobo.

P. S. This is my 2000th post on Nairaland. undecided

9 Likes

Re: CBN Introduces New FX Rate For Bdcs by AngelicBeing: 3:48pm On Mar 28, 2017

Yes, l agree APC is corrupt, kick and vote APC out in 2019, l, President Buhari is tired sef, l prefer to go to Daura to take care of my cows but before l leave , l will steal and loot like former president Jonathan, but l will not steal too much, signed bubu

3 Likes 1 Share

1 2 3 4 Reply

CBN Introduces BVN Lite For Minimal Financial Transactions • CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" • CBN Introduces New Charges On Bank Deposits And Withdrawals • 2 • 3 • 4

Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN • Local Food Vendor “Amoke Oge” Hits N2.3 Billion In Deliveries On Chowdeck • PHOTOS: Leather Inception Mission In Sokoto Is Full Swing