₦airaland Forum

Today I decided to withdraw $100 from my dormiciliary account because of this lock down that is making importation biz a hell plus hunger dey o my people. I sometimes buy dollar to buy stuff online

In fact I am not used to all these dollar and bereau de change things (black market dollar)

Getting to the bank I asked specifically for them to issue me 50 or 100 dollar bill. The girl or lady told me they have 20$ notes //// so I collected.

When I went to aboki to change it to naira, he was quoting 350/$. Why now ? The man told me that my dollar is what they called pieces

From $1 notes to $20 is called pieces and the value is very low in the market. He said the banks are aware of this. All the aboki and black market guys were saying the same thing. He said if it was 50 or $100 note I brought, that he will offer me at 450/$ I was bargaining.

Oga me no be yahoo man but also a struggling hustler . The worst is that two months ago, I bought $300 at the rate of 410 naira in that same market. They mix it up from $1 to $50 notes. They equally told me that if I need single $100 bill , it will be 450 per dollar.

My plan right now is to go deposit the money in my account and withdraw it again. Better to give that 10,000 naira to a struggling family member or a friend ////

iHateDcrowd:
The worst is that two months ago, I bought $300 at the rate of 410 naira in that same market. They mix it up from $1 to $50 notes. They equally told me that if I need single $100 bill , it will be 450 per dollar.

it is clear from the above that you knew that there was a different price depending on which dollar notes you buy/exchange.... you should have refused the $20 bills from the bank and ask for only $100/50 notes.

so i suggest you blame yourself...

MrBrownJay1:
it is clear from the above that you knew that there was a different price depending on which dollar notes you buy/exchange.... you should have refused the $20 bills from the bank and ask for only $100/50 notes.

so i suggest you blame yourself...

10 naira profit not enough for them again. Banks now hoard 50/100 $ notes. I will go deposit it again and spend it online. To hell with them

iHateDcrowd:
10 naira profit not enough for them again. Banks now hoard 50/100 $ notes. I will go deposit it again and spend it online. To hell with them

Lol.

The banks do these to naive clients.

I am interested in finding out the outcome, please do keep us posted.

Thanks

iHateDcrowd:
10 naira profit not enough for them again. Banks now hoard 50/100 $ notes. I will go deposit it again and spend it online. To hell with them

the profit they make depends on a lot of things....but you best understand that the price you buy/exchange dollars in the bank is much different than the price you buy/exchange dollars at a street BDC (thats why you didnt change your $100 at the bank directly).... same with the price you buy VS the price you exchange dollars.

here is a simple clue: try to exchange back that same 100$ to your bank and see at what fee they will exchange it for you... if you get better cash than what the street BDC was offering you, then you are the luckiest man in Nigeria.

I deposited the funds into my account and went to the other branch very close to withdraw single $100 note. I changed it @440.

Everything happened within 1 hour yesterday. That branch seems to be notorious for that nonsense pieces of a currency. Lessons learnt.

NOTE--- Looks like the reason the other dollars 1- 20 denominations are less in value is because of their weak texture. They are more like tissue paper. Not saying that my guess is correct

Guys there is total lockdown in Rivers State, so I can't visit any bank to withdraw and sell to aboki,
Please is there any platform I can use to sell my dollar at the current rate now (445)?

Chibenze:
Guys there is total lockdown in Rivers State, so I can't visit any bank to withdraw and sell to aboki,
Please is there any platform I can use to sell my dollar at the current rate now (445)?

Please did you find any?