Posted on October 18, 2016 by Cardinal Stone

So This Is Why Banks Charged You Black Market Rates Using Your Naira Cards For Forex Transactions

Investment Banking firm Cardinal Stone Partners in its latest weekly report revealed why it thought commercial banks in Nigeria were charging customers parallel market rates when they use their debit card for online forex transactions.   In a research report sent to its clients, the firm opined that banks made a lot of money from Card/E-banking Read More

Posted on July 20, 2016 by Nairametrics

NIGERIA: Parallel Market Exchange Rate (Updated 20/07/2016)

Nigeria’s Parallel Market Exchange rate is a daily compilation of the price of the Naira against three major currencies in the black market. This tracker dates to the first day the Naira was floated. Data is collated from various parallel market dealers on the Mainland and Island of Lagos State. The price quoted daily represents Read More

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