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You targeted bureaux de change in small travel agencies, where you expected to find relatively rich pickings and the level of security which was much less than banks and building societies.
The way things are going, the rate might reach 250 naira per dollar before it stabilizes," a Bureaux de Change operator in the capital Abuja told Vanguard, speaking on condition of anonymity.
10 Don't use a credit card to pay at bureaux de change PAY a UK bureau by credit card and it counts as a cash withdrawal so there's a fee and interest on payments even if you fully repay.
Bureaux de change rates at airports are usually dismal | Bureaux de change rates at airports are usually dismal
In a statement the bank said, 'The bureaux de change have become a major source of leakage in the system and may not be in full compliance with the anti-money laundering law,' the regulator said in a statement.
In response, the UK's largest provider of foreign currency is gearing up for the Olympic Games by making the yuan available on demand at its major bureaux de change branches.
Under the amendments, banks, bureaux de change and credit institutions would "be obliged to ensure that Euro notes and coins which they have received .
Most banks, several travel agents, some bureaux de change, the Post Office and M&S offer commission-free exchanges.
Secret intelligence will be used for the first time to freeze suspect assets, target "dubious" charities, and tougher rules imposed on bureaux de change, he said.
Secret intelligence will be used for the first time to freeze suspect assets, target dubious charities, and tougher rules imposed on bureaux de change, he said.
BAA specified such activities as advertising, long-term car parking and bureaux de change, Reuters reported.
Inflation at 140% forecast to rise to 500% this year, an acute shortage of hard currency and the closure of bureaux de change has sent the Zimbabwe dollar into free-fall with a single US$ fetching over Z$2,000 on the black market against the official exchange rate of Z$55.
The gang operated through corrupt bureaux de change, couriers and complex electronic money transfers between accounts in the UK, the Isle of Man, the US and Colombia.
Then they recruited runners - including a teenager at Edinburgh nightclub Mambo - to go into shops, post offices and bureaux de change to cash the fake cheques.
As consumers will be able to get hold of little new currency in advance of E-day on January 1, retailers will be expected to act as bureaux de change, accepting old currency and giving change in euros.
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