By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
NewsunplugNewsunplugNewsunplug
  • Home
  • News
  • Politics
  • Metro
  • Entertainment
  • Sports
  • Lifestyle
  • Journal
Reading: Dollar not selling at N1,000/$1- BDCs debunk viral post
Share
Notification Show More
Font ResizerAa
Font ResizerAa
NewsunplugNewsunplug
  • Home
  • News
  • Politics
  • Metro
  • Entertainment
  • Sports
  • Lifestyle
  • Journal
Search
  • Home
  • News
  • Politics
  • Metro
  • Entertainment
  • Sports
  • Lifestyle
  • Journal
Have an existing account? Sign In
Follow US
Newsunplug > Blog > News > Dollar not selling at N1,000/$1- BDCs debunk viral post
News

Dollar not selling at N1,000/$1- BDCs debunk viral post

Godson
Last updated: March 27, 2024 3:29 pm
Godson
Published: March 27, 2024
Share
SHARE

Bureau de Change operators in Abuja have dismissed online reports that a US Dollar is exchanging for between N900 and N1,000 in the FCT.  There have been viral posts on Facebook and X that the dollar was selling at N1,000 at the Wuse Zone 4 district headquarters of the forex parallel market in Abuja.

The viral fake post reads

“This morning, at Zone 4 Abuja, along the Sheraton Hotel, the dollar is selling at N1,000 – $1. Abdulsalam BDC is selling N900 if buying over $5,000. There’s a mad rush to dispose of dollars at Zone 4. The dollar in the parallel market is presently selling at a lower price than the official market.”

Dollar not selling at N1,000/$1- BDCs debunk viral post

Some social media users took to the comment sections of the posts to mock forex speculators, saying they will face the consequences for hoarding the Dollar given the Naira appreciation against the foreign currency at N1,000/$1.

However, BDC operators who spoke to Punch dismissed the report saying that the reverse was the case.  Abubakar Abdusallam who operates Abdusallam BDC denied selling FX at the quoted price.

 “Dollar is selling at N1300/$1, not N1000 or N900,” he said

Recently, the Central Bank of Nigeria offered to sell $10,000 to each BDC operator at N1,251/$. The apex bank expects them not to sell above N1,269/$, representing a margin of N18.

You Might Also Like

2023 Election: Security in Borno has improved tremendously by over 90 percent – Zulum
Gov El-Rufai Vows To Sack Bad Workers, Demolish Illegal Structures Till Last Hour
Buhari re-appoints Dabiri-Erewa as NIDCOM chairman
LP Releases Timetable For By-Elections, Pegs Senate Form At N5m
Putin visits troops in occupied Ukranian territories, meets with senior commanders and gifts them an icon of Jesus (photos/Video)

Quick Link

  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index
Share This Article
Facebook Twitter Email Print
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • BREAKING NEWS: “I dumped Tottenham for Arsenal, not because of anybody but because of this particular Arsenal player, it has always been my dream to play alongside with Him one day” – Eberechi Eze names the ONE Arsenal player that inspired him to join Arsenal after completing Arsenal move TODAY – Not Saka and Not Madueke
  • Ronaldo Disappointed by International teammate’s Decision to Join Premier League club Over Real Madrid
  • Transfer: Man Utd blocked me from leaving this summer – Maguire
  • Man accused of plotting rapper Young Dolph’s murd£r found not guilty on all counts
  • EFCC declares Atiku’s Son-in-law wanted over alleged money laundering

Recent Comments

No comments to show.

Categories

  • ES Money
  • U.K News
  • The Escapist
  • Insider
  • Science
  • Technology
  • LifeStyle
  • Marketing

About US

We influence 20 million users and is the number one business and technology news network on the planet.
Quick Link
  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index
Top Categories
  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index

Subscribe US

Subscribe to our newsletter to get our newest articles instantly!

[mc4wp_form]

Top Categories

  • Entertainment

Categories

  • ES Money
  • U.K News
  • The Escapist
  • Insider
  • Science
  • Technology
  • LifeStyle
  • Marketing

About US

We influence 20 million users and is the number one business and technology news network on the planet.
Quick Link
  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index
Top Categories
  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index

Subscribe US

Subscribe to our newsletter to get our newest articles instantly!

[mc4wp_form]
© 2023 Newsunplug | All Rights Reserved.
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?