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CALM DOWN: One dollar is NOT N184 as Google suggests

CALM DOWN: One dollar is NOT N184 as Google suggests
February 22
20:40 2019
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Google Currency is currently showing that one dollar is going for N184, but this is just a glitch in its software, TheCable can report.

The Central Bank of Nigeria sold the greenback to bureau de change (BDC) operators at N357 per dollar on Friday.

Musa Ibrahim, a BDC operator, who spoke to TheCable from Lagos Island, said he bought $20,000 from the CBN at 357 per dollar.

“We collected from CBN today at the rate of N357, and each BDC operator is entitled to $20, 000,” he said.

Two members of staff at Google, who spoke off the record, confirmed to TheCable that this was just a bug, that is currently being fixed by the search giant.

According to Bloomberg currency rate, the dollar is currently trading at N361.8, with the local currency gaining N1.75 against the greenback.

A mail from TheCable to Google Press office is yet to be replied — but an automatic response was received, stating that all queries will be addressed shortly.

In a public post, however, Google in Africa, says it is aware of the glitch and is working to diagnose the issue.

Nigeria goes to the poll in less than 12 hours after this glitch, driving speculations and jokes on social media on how the incumbent may want to turn the economy around overnight.

While some fear that their stacked dollars may have lost tremendous value, others are celebrating a rise in the value of the naira, but many are aware this is just a temporary glitch.

Whatever the case is, TheCable understands that the dollar is still trading at 358 to 360 at the foreign exchange market.

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Exchange Rates

October 30, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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