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How to Buy and Sell US Dollar Online | Nigerian Exchange Rate

In this video, I will teach you about USD | How to Buy and Sell US Dollar Online | Nigerian Exchange Rate 2021 | Passive Income Ideas 🟢 CONTACTS: WhatsApp: https://wa.me/message/CERFRNZ6XP6ZN1 Telegram: https://t.me/chido_original Instagram:   / chido_original   Email: [email protected] Phone number: +2348079553775 **CHAPTERS** 0:00 - Intro 0:28 - NgnRates 5:47 - Everdon BDC Website 7:15 - Current MArket rates 7:43 - Outro https://www.ngnrates.com/ https://everdonbdc.com/ Here is the relationship, when you import or make a foreign currency payment like Joint Venture cash calls, you debit your Current account, however when you export or earn/receive foreign payments like Petroleum taxes, you credit your Current account. Let’s assume Nigeria has a net credit or current account surplus. That Current Account surplus flows into Nigeria’s foreign reserves at the CBN. Remember, we sell oil in US Dollars and pay for car imports also in US dollars, thus what hits the reserves are dollars. Now, the Central Bank of Nigeria (CBN), as the Federation’s bankers, manages the foreign reserves account. The Federation i.e. the Federal, State, and Local Governments retain a sharing formula for the US Dollar in the foreign reserves, i.e., the net of exports and imports. When Nigeria makes export earnings in USD, the CBN exchanges the US Dollars for Naira and retains the US Dollars. Thus, the dollars are owned by the CBN, the Federal and States Naira allocation, and are shared via the Consolidated Revenue Fund (colloquially referred to as FAAC). So, as you can deduce, if exports or forex taxes go up, foreign reserves go up, if imports or forex payments go up, foreign reserves go down (I am being simplistic). Now to the exchange rate, when Nigeria sells oil, she is paid in dollars, but when Nigeria imports, she spends those dollars also. If Nigeria exports more, and earns more US Dollars, there is less pressure on the CBN to supply USD to the market, but if Nigeria imports more, she needs more US Dollars, which puts pressure on the dollars reserves. Imports mean more US Dollars are needed to fund payments for imports. To make Naira rise in value, one way is to reduce imports (or increase exports), because that means fewer dollar requests, making the Naira stronger. Got it? 🟢 My Number 1 RECOMMENDED Way of MAKING MONEY ONLINE: (First Register on Udemy then BUY my Course) - https://bit.ly/JoinChidoOriginalCourse 🟢 Join my Channel's MEMBERSHIP for Exclusive SECRETS: https://bit.ly/JoinChidoOriginalMembe... 🟢 MY PLAYLISTS: MAKE MONEY PLAYLIST: https://bit.ly/MakeMoneyOnlinePlaylis... PAYPAL PLAYLIST: https://bit.ly/PayPalPlaylist AFFILIATE MARKETING PLAYLIST: https://bit.ly/AffiliateMarketingPlay... WORK FROM HOME PLAYLIST: https://bit.ly/WorkFromHomePlaylistPro FIVERR PLAYLIST: https://bit.ly/FiverrPlaylist IMPORTANT INFORMATION PLAYLIST: https://bit.ly/ImportantInformationPl... 🟢 SUPPORT MY CHANNEL: PayPal Contribution: https://bit.ly/SupportChidoOriginal #USD #InternationalCurrency 🟢 DISCLAIMER: This video is for educational purposes only and not for professional financial advice. The results and earnings mentioned in this video are not typical and there’s no guarantee that you’ll earn the same amount of money using the strategies mentioned in this video. To attain the results in this video, requires knowledge, hard work, and skill. You can choose not to rely on the information contained here. I have taken all the necessary steps needed to ensure that the information in this video is accurate. 🟢 DISCLOSURE: This video and description may contain affiliate links. If you click on any of the links, I may receive a commission with no additional charge to you. 🟢 About CHIDO ORIGINAL: I will teach you different ways to Earn Money Online. How to make money online in Nigeria, the United States, United Kingdom, Canada, India, South Africa, Ghana, Kenya, Australia, New Zealand, Bangladesh, and many other countries at the comfort of your own home. So are you here to learn how to make money online? You have come to the right place. I upload content that will help you earn money online and start a profitable business. In this channel, he will be sharing his life’s work to enable more people to bring their ideas to life and to actually make money online. From his masterclasses to his blueprints, formulas,, and action plans, you will be able to access the mind of the mastermind himself, thereby bringing yourself one step closer to realizing your ideas and businesses. This channel is dedicated to solving all your financial problems and help you with good investment plans. I will show you proven ways to earn money online through passive income, affiliate marketing, etc.