Thats Huge

SweetOlive:
It’s Time to learn some Forex Trading Skill

my exact thoughts

Fragility6:

u are a good dad

Thanks bro

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shiki:
It will reach #600 B4 Dec

₦1,000 precisely

gurunlocker:


Not fake news... TransferWise is 374.12 for weeks now

Payoneer is 382.. These are parallel rates which all these websites use.

The truth behind this is, they use 3rd party BDC company in Nigeria (If you can mention TransferWise, you will know the BDC I'm talking about). They are the one eating the big chunk of it. They will get the USD at 450 and give people 374-382.


But if you use Dom account and collect your dollars and take it to Aboki or dem BDC gangan, na 450 o....

You are spot on, i use transerwise always. the only reason is they reliable.

Etinosa1234:
people that will gain more from this are those living abroad

Not really. Some of us have some dollars to sell. But we are waiting for at 500 or 600 naira.

God abeg oo

THIS IS THE SIDE EFFECT OF A MONO PRODUCT ECONOMY IMPOSED BY THE NORTHERN POLITICAL LEADERS AND THEIR SUPPORTERS.

This is the preferred choice of the Northerners who want Nigeria to remain down so long as they get one kobo from crude oil.

Agriculture is there for them to take up and add value to nation building but their political leader Buhari want to die over crude oil that is not even in the north.

I AM VERY HAPPY THAT NIGERIA SHIP LOAD OF CRUDE OIL IS BERTHING AT THE SPANISH CANARY ISLAND WITH NO INTERNATIONAL BUYER.

Let Nigeria find a better way to generate true NATIONAL WEALTH not to exploit the one of only region while they GET LAZY ABOUT.

SenecaTheYonger:
its still 374.12 NGN in online money transfer service, Bleep off with this fake news.

Which of them?

SenecaTheYonger:


I swear

As an economist, I understand their stupid games. If we all know why Syria, Lybia, others were forcefully ambushed by criminal Americans and false state of Israel, we'll realised the innocent-looking modern day slavery upon our nation. Nigeria is sold!

TheGodlessGod:
Remain small time when 1 dollar will equal 1000 naira

Then we go don blow be that. Lol

DeepRealm:


Then we go don blow be that. Lol

dude don't be dumb

gurunlocker:


Not fake news... TransferWise is 374.12 for weeks now

Payoneer is 382.. These are parallel rates which all these websites use.

The truth behind this is, they use 3rd party BDC company in Nigeria (If you can mention TransferWise, you will know the BDC I'm talking about). They are the one eating the big chunk of it. They will get the USD at 450 and give people 374-382.


But if you use Dom account and collect your dollars and take it to Aboki or dem BDC gangan, na 450 o....

Its not their fault or a BDC. CBN forces services like TransferWise and Western Union to sell to banks at official IFEX rates which are around 370 Naira. If you use an informal service like BDC's you get the street or black market rates.

hidhrhis:

Thanks man

And you are happy

hidhrhis:

Can you explain something to me please
Like if one want to exchange naira for Dollar now it will be at the rate of 450

To help you a little bit, in forex market, you have the sell rate and the buy rate. The rate we are talking about here is the sell rate. i.e. the rate at which you will buy $1. Say for example, if you need $100, you will have to pay $100*450=N45,000. Therefore, you will be paying N45,000 to get $100

This is different from a situation where you have $100 and you what to change it to NGN. the rate at which it will be changed to Naira will be lower than the rate at which you will buy USD. For example your $100 may be change to at N445/$. Therefore, your $100 will give you 44,500.

The margin (i.e. difference between buy and sell rate) is the profit of the BDCs.

ecolime:

Hahaha... Guess you slept off early March and just waking up this morning.

but to be told I paid 26.5 dollars to an foreign hosting company and was charged 9500 naira

DeepRealm:


Not really. Some of us have some dollars to sell. But we are waiting for at 500 or 600 naira.

Ahhh...U wan make e crash completely

E don Red, finally.


our money is in crisis as well as we all are.

Etinosa1234:
people that will gain more from this are those living abroad

And forex traders

EXLOVER:
That's why it's good to earn in Dollars and spend in Naira.

Good news to some bad news to some. I Know where I'm standing sha.


#Happy Everyday

You don't know when the dollar goes up, the cost of commodities in Naira goes up too.

How is that good news mate?

It will get worse if care is not taken, since our major source of foreign exchange earnings is from crude oil and the price of crude oil is plummeting by the day. The multiplier effect on our economy would be disastrous.
Our diversification agenda is yet to rake in expected returns that could cushion any shock emanating from crude oil market.
May Nigeria survive this hard time.

rottencorpse:
Nigeria has always been a f**ked up country even before the pandemic started, so I'm not surprised

You mean Zoogeria?

9jaDoomCountry:



Pray it doesn't get to 750 before 2023

by then it will be 100000 naira to a dollar

What about your undies or they are locally made too.

okomile:
Garri no dey sell for dollar
I don't need it

If you are not a forex trader....sorry for your lose.08095577228 am here to help

Kendumazy:
Seriously serious! It's even 450 as at this morning.

my prediction is that nigeria will be off the cliff by june


i am doing my best to prepare for it but i did not expect it to be this bad this fast

#1 = $1 comes to mind ! Sai baba fulani !

Yeah you broke it down well for any layman.It is called ask and bid rates in trading .Spread is the margin or gain.quote author=Unity19 post=89462759]

To help you a little bit, in forex market, you have the sell rate and the buy rate. The rate we are talking about here is the sell rate. i.e. the rate at which you will buy $1. Say for example, if you need $100, you will have to pay $100*450=N45,000. Therefore, you will be paying N45,000 to get $100

This is different from a situation where you have $100 and you what to change it to USD. the rate at which it will be changed to Naira will be lower than the rate at which you will buy USD. For example your $100 may be change to at N445/$. Therefore, your $100 will give you 44,500.

The margin (i.e. difference between buy and sell rate) is the profit of the BDCs.[/quote]

SenecaTheYonger:
its still 374.12 NGN in online money transfer service, Bleep off with this fake news.

which please?