The Nigerian Naira is racing to N2,000 per dollar at the black market despite the Central Bank of Nigeria’s sale of dollars to the Bureau De Change operators.
A BDC operator, Dayyabu Ashiru confirmed to DAILY POST that Naira is currently exchanging for N1,670 per dollar from the N1665 exchange rate last Friday.
“We buy at N1665 per dollar and sell at N1670”, he said.
DAILY GIST recalls that the apex bank had announced the sale of $20,000 each to legible BDC operators at N1580 per dollar
This was contained in a notice on Friday signed by CBN acting director, Trade and Exchange Department, W Kanya.
This was in a bid to provide more forex liquidity in the market and meet demand.
The apex bank noted that All BDCs are allowed to sell to eligible end-users at a margin not more than 1 percent above the purchase rate.
Meanwhile, the appreciated last Friday at the official market to close the week at N1593.32 per dollar exchange rate.
