The naira exchanged at 1,185/$ on Wednesday at the parallel market, as liquidity challenge persisted, according to some Bureau de Change Operators.
Some BDC operators who spoke to The PUNCH, said this was a slight improvement from 1,190/$ traded on Tuesday, as the local currency was yet to gain its true value.
Figures obtained from AbokiFX said the naira was bought and sold at 1,170/$ and 1,175/$; 1,510/ £ and 1,550/ £; and €1,280 and €1,300 respectively on Wednesday.
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A BDC operator, Jubril Mutiu, said, “We sold the naira at 1,185/$ today, it was 1,190/$ yesterday; we are buying at 1,175/$ today.”
Another BDC operator, Ismail Ahmed, said, “There is still a scarcity challenge. We are buying and selling at 1,180/$ and 1,200/$. It was cheaper last weekend, but it has gone up because of scarcity.”
Last week, the naira hit a high of 1,310/$ on Tuesday before closing at 1,150/$ at the parallel market on Friday.
The Association of Bureau De Change Operators of Nigeria noted the recent gains and gave suggestion on sustaining the gain.
Source Punch
