Business
Naira gains 3.6% to trade N540/$1 at parallel market
The Nigerian naira has appreciated by 3.6% to N540/$1 at the parallel market — almost four months after the Central Bank of Nigeria (CBN) stopped FX sales to Bureaux De Change (BDCs) operators.
The local currency gained N20 to close at N540 yesterday from N560 it opened the weekly trading on Monday.
Bureaux De Change traders in Lagos told TheCable that the market had been experiencing massive gain against the greenback since last week.
Abubakar Salisu, a BDC trader, said they are now very reluctant to sell or buy at any certain rate except they get accurate confirmation from other operators.
“We sell today N540 per dollar. Last week, it was N565 to a dollar,” Salisu said.
Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.
She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others
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