Exchange Rate
1 min read
Naira gains at parallel market, trades at N1,500/$
Naira has continued its appreciation streak at the parallel section of the foreign exchange (FX) market. The local currency traded at N1,500/$ on Wednesday, representing a gain of 9.09 percent from N1,650/$ recorded on Monday. Currency traders, known as bureau de change (BDC) operators, quoted the buying rate at N1,450 and the selling price at […]
2 mins read
CBN directs BDCs to buy forex at N1,301 per dollar, sell at 1% profit
The Central Bank of Nigeria has announced plans to sell forex to bureau de change operators at N1,301 per dollar. The decision, which aimed to enable the sale of foreign exchange to BDC operators to meet the retail demand for eligible invisible transactions, was contained in a statement signed by Hassan Mahmud, a director at […]