CBN formalises dollar sales to BDCs as naira improves - Business (4)

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CBN formalises dollar sales to BDCs as naira improves - Business (4) - Nairaland

Nairaland Forum / Nairaland / General / Business / CBN formalises dollar sales to BDCs as naira improves (33765 Views)

Naira Depreciates Further As Dollar Sales To BDCs Wobble / Oil Companies Resume Dollar Sales To Banks As CBN Eyes Supply / Naira Falls After CBN Stops Forex Sales To BDCs (2) (3) (4)

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Re: CBN formalises dollar sales to BDCs as naira improves by lapintoz: 8:22pm On Feb 27

Na only you the thing go fire......😄

Wailing wailers....nothing good comes out of their brain.....

AllTheWayUp:

After destroying the economy and decreasing the purchasing power of Nigerians with their trial and error policies , they have now gone back to their vomit.
Thunder fire Tinubu
Thunder fire all those who supported Tinubu for floating the Naira

Re: CBN formalises dollar sales to BDCs as naira improves by Newton1045: 8:28pm On Feb 27

BDC will sell at 1400.
And the cycle continues.
BDC can never sell at lesser price.

They won't help us

Re: CBN formalises dollar sales to BDCs as naira improves by Easylife1234: 8:29pm On Feb 27

Good luck

Re: CBN formalises dollar sales to BDCs as naira improves by udemzyudex(m): 8:30pm On Feb 27

oluwaseyi0:

1) if they buy from government at 1300 with an agreement not to go above 1% tell me why they should sell at 2500 per dollar, no one forced them to buy from government knowing government has terms and conditions

2) the official market which is controlled by the market force determine the government selling price, government sells at the previous day lower price spectrum of the official rate, as market price fall so also the amount the government will sell to BDC and they can't go above 1percent, same is applicable when the price rise in the official market

3) government is been controlled by the official market and not vice versa, the official market dictate what the government will sell but leaving speculators to decide parallel market rates is currently not working so what I expect a reasonable government to do is step in to the parallel market but be fully guided/controlled by the official rate

You still don't understand the question.

1 Like

Re: CBN formalises dollar sales to BDCs as naira improves by Truths9ja: 8:42pm On Feb 27

inoki247:

I don't know what domain you're talking about I'm in Nigeria I'm not outside the country for now and I still use it to trade today...

Is only the Website that's not working the app dey work..

ok the app dey work.

Re: CBN formalises dollar sales to BDCs as naira improves by commoditiesnig: 8:45pm On Feb 27

ogawisdom:

CBN giving USD woto woto

CBN & Cardoso dey vex o.. Lol

Excellent job to them!

Re: CBN formalises dollar sales to BDCs as naira improves by abah001: 8:53pm On Feb 27

No apologies to Emefiele he follow kill our Economy

HeatSeeker:

Honestly, they owe him a very big apology.

Re: CBN formalises dollar sales to BDCs as naira improves by frankyychiji(f): 8:58pm On Feb 27

Originakalokalo:

Re: CBN formalises dollar sales to BDCs as naira improves by Johncuppa(m): 9:02pm On Feb 27

hansomb:

Reminds me of one mathematics method like that factorisation using trial and error method, sometimes I have to solve 5 times b4 arriving at the answer, time don go.

😂 We told them to use formular method but they chose trial and error method. That thing can waste time, Las Las you still feel no get answer

1 Like

Re: CBN formalises dollar sales to BDCs as naira improves by DenreleDave(m): 9:04pm On Feb 27

LegendHero:

The market. They are using the closing rate of the previous day.

Hero baba.. Eku ìrólé..

How do I reach u baba mi

Re: CBN formalises dollar sales to BDCs as naira improves by Johncuppa(m): 9:11pm On Feb 27

Bostin:
That's called troubleshooting better than wasted clueless 8years

Troubleshooting should be for machine not with lives of men.

Re: CBN formalises dollar sales to BDCs as naira improves by Alliswell248: 9:29pm On Feb 27

SensualMan:
Tinubu is working! The economy is fantastic!

Bola Ahmed Okechukwu Tinubu!

On your mandate we shall stand!

Jagaban till 2039

If you are hungry...go back to the sad east and join those kidnapping corpse.

Enemies of good news

2 Likes

Re: CBN formalises dollar sales to BDCs as naira improves by bemeruca: 10:04pm On Feb 27

zionstaar75:
how does what a nonentity like you say affect anybody

Hunger is making you not think straight

Re: CBN formalises dollar sales to BDCs as naira improves by tollyboy5(m): 10:15pm On Feb 27

AllTheWayUp:

After destroying the economy and decreasing the purchasing power of Nigerians with their trial and error policies , they have now gone back to their vomit.
Thunder fire Tinubu
Thunder fire all those who supported Tinubu for floating the Naira

No solution in your brain.
Only ranting!
Jumping from one thread to the other talking rubbish!

1 Like

Re: CBN formalises dollar sales to BDCs as naira improves by Museum: 10:21pm On Feb 27

"...representing the lower band rate of executed spot transactions at NAFEM for the previous trading day, as of today, 27th February 2024". ... several confident illiterates making a grandstand against the float policy miss this.

Re: CBN formalises dollar sales to BDCs as naira improves by judatech: 10:28pm On Feb 27

iLegendd:
It makes them feel like they're losing profit.

Exactly...other countries cushion this with tax cuts,etc

Re: CBN formalises dollar sales to BDCs as naira improves by Biodun556(m): 10:28pm On Feb 27

Truths9ja:
As the Cbn governor reversed floating of naira, he should reverse banning of Binance and other crypto currency wallets app to our media space back.

Floating is still there

1 Like

Re: CBN formalises dollar sales to BDCs as naira improves by maasoap(m): 10:29pm On Feb 27

richiemcgold:
We should try and read attentively before running to the comment section. Based on what I read up there, I don't think the floating has really been reversed. So why are those people above me shouting floating upandown?
In a nutshell, the fx market has been extended to BDC again but it is specifically for eligible BDCs and the market can still be well monitored by the CBN.

CBN wants to sell at N1301 to a dollar and instructing BDC operators to sell between N1330-1350 to a dollar. If that's not a fixed exchange rate, I wonder what it is?

1 Like

Re: CBN formalises dollar sales to BDCs as naira improves by a4cube: 10:36pm On Feb 27

Is it the same bdc they raided last week or they registered new ones?
So raiding them did not yield any result.

1 Like

Re: CBN formalises dollar sales to BDCs as naira improves by PARADIZEPRIEST: 10:38pm On Feb 27

NIGERIA IS GOD'S OWN COUNTRY WHETHER YOU LIKE IT OR NOT, BELIEVE IT OR NOT. sad

IN NIGERIA IF YOU WISH THE COUNTRY SOMETHING GOOD YOU WILL BE ENJOYING GOODNESS, BUT IF YOU ARE AMONG THOSE WISHING BAD FOR NIGERIA, LIFE WILL REMAIN HARD AND BAD FOR YOU AS LONG AS YOUR EVIL WISHES PERSIST WHETHER OBJ IS IN POWER OR PTINUBU IN POWER,E DEY YA HANDS.QED angry

2 Likes

Re: CBN formalises dollar sales to BDCs as naira improves by Truths9ja: 10:39pm On Feb 27

Biodun556:

Floating is still there

hmm 🤔

Re: CBN formalises dollar sales to BDCs as naira improves by Biodun556(m): 10:39pm On Feb 27

AllTheWayUp:

After destroying the economy and decreasing the purchasing power of Nigerians with their trial and error policies , they have now gone back to their vomit.
Thunder fire Tinubu
Thunder fire all those who supported Tinubu for floating the Naira

The floating is still in place

Re: CBN formalises dollar sales to BDCs as naira improves by Biodun556(m): 10:43pm On Feb 27

Newton1045:
BDC will sell at 1400.
And the cycle continues.
BDC can never sell at lesser price.

They won't help us

I think I read it somewhere CBN said they are allowed to make 1% profit

If the profit is not too much nothing bad. But not what happened under Buhari when CBN will at 400 naira and bureau de change will resell at 900 which crippled the economy and made government not to have value for the dollars it sold

Re: CBN formalises dollar sales to BDCs as naira improves by Biodun556(m): 10:44pm On Feb 27

a4cube:
Is it the same bdc they raided last week or they registered new ones?
So raiding them did not yield any result.

They licensed and recapitalize qualified ones

Re: CBN formalises dollar sales to BDCs as naira improves by Biodun556(m): 10:49pm On Feb 27

ayokellany:
The same person that determined it when it went to ₦2000

Next question

It is market forces. The CBN governor even said the naira is undervalued.

They will only be able to determine the real market force if CBN achieve uniformity in the price of N/$ that is removing parallel market completely

Re: CBN formalises dollar sales to BDCs as naira improves by Healermyst: 10:52pm On Feb 27

ChangetheChange:

https://gazettengr.com/cbn-directs-bdcs-to-buy-forex-at-n1301-per-dollar-sell-at-1-profit/

Shame

Re: CBN formalises dollar sales to BDCs as naira improves by a4cube: 11:01pm On Feb 27

Biodun556:

They licensed and recapitalize qualified ones

In just less than one week? Cut and join will not lead us anywhere

Re: CBN formalises dollar sales to BDCs as naira improves by ejire042(m): 11:47pm On Feb 27

richiemcgold:
We should try and read attentively before running to the comment section. Based on what I read up there, I don't think the floating has really been reversed. So why are those people above me shouting floating upandown?
In a nutshell, the fx market has been extended to BDC again but it is specifically for eligible BDCs and the market can still be well monitored by the CBN.

Thank you for putting it in a language they can understand.

Re: CBN formalises dollar sales to BDCs as naira improves by racerve(m): 2:20am On Feb 28

Biodun556:

I think I read it somewhere CBN said they are allowed to make 1% profit

If the profit is not too much nothing bad. But not what happened under Buhari when CBN will at 400 naira and bureau de change will resell at 900 which crippled the economy and made government not to have value for the dollars it sold

Why do we need BDCs when we have a functioning banking system?

Abi banks cannot count in dollars when dispersing to customers?

Re: CBN formalises dollar sales to BDCs as naira improves by Bostin(m): 5:19am On Feb 28

Johncuppa:

Troubleshooting should be for machine not with lives of men.

do you really know the meaning ?

Re: CBN formalises dollar sales to BDCs as naira improves by MrBONE2(m): 5:54am On Feb 28

AllTheWayUp:

After destroying the economy and decreasing the purchasing power of Nigerians with their trial and error policies , they have now gone back to their vomit.
Thunder fire Tinubu
Thunder fire all those who supported Tinubu for floating the Naira

Re: CBN formalises dollar sales to BDCs as naira improves by gabriel66386: 6:48am On Feb 28

As the Cbn governor reversed floating of naira, he should reverse banning of Binance and other crypto currency wallets app to our media space back.As the Cbn governor reversed floating of naira, he should reverse banning of Binance and other crypto currency wallets app to our media space back....

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