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Nairaland Forum / Nairaland / General / Autos / Cars, Auto Dealers & $ Dollar - Naira Exchange Rate: How Are You Coping? (31226 Views)
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Re: Cars, Auto Dealers & $ Dollar - Naira Exchange Rate: How Are You Coping? by PotatoSalad(m): 8:16pm On Nov 26, 2020 |
peeps4u:Ok Elon musk 1 Like |
Re: Cars, Auto Dealers & $ Dollar - Naira Exchange Rate: How Are You Coping? by ibinaboonline: 8:30pm On Nov 26, 2020 |
For me, the most painful part is that I receive transfers from the US at exactly the CBN's 380 naira/$. But if I want to buy or send money overseas I'm charged an upward of 450 naira. WTH? |
Re: Cars, Auto Dealers & $ Dollar - Naira Exchange Rate: How Are You Coping? by ibinaboonline: 8:41pm On Nov 26, 2020 |
The import duty was only slashed recently. After all, implementation is another ball game altogether as far as this country is concerned. adonainana: |
Re: Cars, Auto Dealers & $ Dollar - Naira Exchange Rate: How Are You Coping? by sacajawea: 8:54pm On Nov 26, 2020 |
GBTYO:Sho yawere ni? 1 Like |
Re: Cars, Auto Dealers & $ Dollar - Naira Exchange Rate: How Are You Coping? by sacajawea: 8:56pm On Nov 26, 2020 |
Ugoc3:What of Trucks, Tippers, Dump trucks, Bullion Vans etc. |
Re: Cars, Auto Dealers & $ Dollar - Naira Exchange Rate: How Are You Coping? by sacajawea: 9:02pm On Nov 26, 2020 |
seunoj:Pls explain better, i don't really get you |
Re: Cars, Auto Dealers & $ Dollar - Naira Exchange Rate: How Are You Coping? by AMvanquish: 11:03pm On Nov 26, 2020 |
Can't believe I read this whole thread from the 1st page. Currently in a dilemma either to buy locally or abroad. The exchange rate has not been favourable though, you use present exchange rate to do plus and minus , next week the spike is crazy. We are really in a banana republic. |
Re: Cars, Auto Dealers & $ Dollar - Naira Exchange Rate: How Are You Coping? by seunoj: 2:55am On Nov 27, 2020 |
sacajawea: By CBN regulation no one is allowed to do offshore transfer except u r doing form A(invisbles like intl sch fees, medical etc.) or form m (visibles - importation of approved goods). These are paid at the cbn official exchange rate by the bank. Toks car are not valid for fx so u have to source for ur dollar. Even If u have the dollars now, u can't transfer like before because there is ban on offshore transfer for now. So business have been patronizing the informal sector. They collect naira from them in Nigeria and help pay the beneficiary in the country of choice in their own currency. The exchange is determined by them. Hope this is clear |
Re: Cars, Auto Dealers & $ Dollar - Naira Exchange Rate: How Are You Coping? by sacajawea: 5:53am On Nov 27, 2020 |
seunoj:Ok, but the rate is not the official rate, right? If say i want to import goods from a Company China, Dubai, US or Asia in Large Quantity and the Costs goes up to hundreds of thousands of dollars, what is the best way to go about this? Getting the official rate (or something very very close is Crucial) is Crucial. |
Re: Cars, Auto Dealers & $ Dollar - Naira Exchange Rate: How Are You Coping? by Trustme2(m): 7:23am On Nov 27, 2020 |
sacajawea:For cars, you'll have to get someone in the US to pay Dollars on your behalf for the purchase, then you'll pay into the Naira account of the person the unofficial rate of Naira equivalent currently N494/$ though I know it quite negotiable depending on your contact. And those guys abroad are mean with it. They are always current with the unofficial rate, and they'll tell you the current rate which is what they'll want you to pay. Of course could be painful, but we've got no choice. That's where we've found ourselves. Meanwhile if they have to send Dollars home through their account they'll pay them with the official rate of N380/$ |
Re: Cars, Auto Dealers & $ Dollar - Naira Exchange Rate: How Are You Coping? by seunoj: 7:31am On Nov 27, 2020 |
sacajawea: Definitely not at official rate. Rate is negotiable but I know usd now trades BTW 450 n 465 in that informal market based on negotiation. I dont have a contact in the market so don't ask me. The market is volatile too as fraudsters dey there. Open ur eyes and do quality referrals only. |
Re: Cars, Auto Dealers & $ Dollar - Naira Exchange Rate: How Are You Coping? by sacajawea: 7:46am On Nov 27, 2020 |
Trustme2:Ok, but I'm talking of Official business with an international Company, how do I get Dollars at the official rate or at least something very Close to the Official rate, about hundreds of thousands is involved here. Someone said i should go to Bank, that they can and will give me |
Re: Cars, Auto Dealers & $ Dollar - Naira Exchange Rate: How Are You Coping? by computerglobal(m): 7:50am On Nov 27, 2020 |
The more you know about the vehicle the safer you will be. Run a VIN check and verify critical facts you need to buy a used car with confidence. Check the title status, previous odometer readings and the current market of the vehicle. Do as many checks as possible to ensure you are getting a legitimate offer. www.nairaland.com/computerglobal www.nairaland.com/attachments/10000072_vehiclehistoryreport_jpeg3e8dde5a1fb4cccbf6626e983b2598da |
Re: Cars, Auto Dealers & $ Dollar - Naira Exchange Rate: How Are You Coping? by Trustme2(m): 7:52am On Nov 27, 2020 |
sacajawea:I think there are approved businesses that the government/banks gives dollars too for such transaction. I don't know what kind of business you're talking about though, so you may have to visit a bank to find out if your business could be funded with dollars at the official rate |
Re: Cars, Auto Dealers & $ Dollar - Naira Exchange Rate: How Are You Coping? by sacajawea: 7:56am On Nov 27, 2020 |
seunoj:Ok, but I'm talking of Official business with an international Company, how do I get Dollars at the official rate or at least something very Close to the Official rate, about hundreds of thousands is involved here. Someone said i should go to Bank, that they can and will give me |
Re: Cars, Auto Dealers & $ Dollar - Naira Exchange Rate: How Are You Coping? by sacajawea: 7:56am On Nov 27, 2020 |
Trustme2:Ok, i will do that |
Re: Cars, Auto Dealers & $ Dollar - Naira Exchange Rate: How Are You Coping? by seunoj: 8:15am On Nov 27, 2020 |
sacajawea: Check if the items are valid for FX. Go to cbn website or just ask Google or visit the bank they will tell u if it's valid. If valid, u can use the bank to get fx but of course there is queue and its not automatic. If no, it's not possible. Na informal sector last last |
Re: Cars, Auto Dealers & $ Dollar - Naira Exchange Rate: How Are You Coping? by kingebenezer: 9:22am On Nov 27, 2020 |
Contact me 08024057075 No be small thing. I dey pity dem. Please I need foreign used Lexus RX 350 2009. It must be very neat with good title[/b][/quote] |
Re: Cars, Auto Dealers & $ Dollar - Naira Exchange Rate: How Are You Coping? by bilulu(m): 5:23pm On Nov 27, 2020 |
chrisifeanyi:What is your location so I'll brief you when the car lands by mid December.... |
Re: Cars, Auto Dealers & $ Dollar - Naira Exchange Rate: How Are You Coping? by InvertedHammer: 12:00am On Nov 29, 2020 |
calculusx:/ Most of the people complaining are the ones who have never imported even toothpicks in their lives. Car import was what we ran on the side as students. I bow to anyone who has the balls to import vehicles into Nigeria. Yesterday, CBN secretly devalued naira officially to N390/$. Expect parallel market to hit N500/$ and this is with US dollar index at 2 years low. There goes people's profits. Who will wait at least a month turnaround to make N100k profit in a used vehicle? It sounds like a colossal waste of time to me. \ |
Re: Cars, Auto Dealers & $ Dollar - Naira Exchange Rate: How Are You Coping? by Trustme2(m): 11:59am On Nov 29, 2020 |
InvertedHammer:Very Correct Bro. This business needs a lot of patience especially with customers. They can't understand |
Re: Cars, Auto Dealers & $ Dollar - Naira Exchange Rate: How Are You Coping? by Trustme2(m): 8:43am On Dec 05, 2020 |
Indeed |
Re: Cars, Auto Dealers & $ Dollar - Naira Exchange Rate: How Are You Coping? by banidoc(m): 10:13am On Dec 14, 2020 |
blackedwin: Do you have ES350 2012 |
Re: Cars, Auto Dealers & $ Dollar - Naira Exchange Rate: How Are You Coping? by Trustme2(m): 10:55am On Dec 14, 2020 |
banidoc:I have 2010. From 2010 to 2012 are the same. Let me know if you're interested |
Re: Cars, Auto Dealers & $ Dollar - Naira Exchange Rate: How Are You Coping? by banidoc(m): 11:49am On Dec 14, 2020 |
0 8 0 6 0 9 8 5 9 1 6 0 9 0 5 5 5 1 3 2 1 0 Trustme2: |
Re: Cars, Auto Dealers & $ Dollar - Naira Exchange Rate: How Are You Coping? by FrancisAdl(m): 1:23pm On Feb 07, 2021 |
Anyone with $ funds to make payment to copart account? Chat me |
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