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![Today's Naira Rate [29-04-2024]: Naira Weakens Further: BDC Operators Face Challenges as Dollar Hits N1,350](/data/attachments/203/203446-6e202405f2f497d63440ce71bc64dc98.jpg?hash=biAkBfL0l9)
Nigeria Today's Naira Rate [29-04-2024]: Naira Weakens Further: BDC Operators Face Challenges as Dollar Hits N1,350
Amidst ongoing economic uncertainties, the Nigerian naira witnessed a further depreciation against the US dollar, reaching N1,350 per dollar at the parallel segment of the foreign exchange (FX) market on Monday. This marked a 2.27 percent decline from the rate of N1,320/$ recorded on April 26...- Nigeria News
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Business CBN Fulfils Promise, Sells Dollar At N360 To BDCs
The Central Bank of Nigeria on Thursday sold $20,000 to each registered Bureau de Change operators who bided for forex yesterday at a rate of 360 naira per dollar in order to boost liquidity. A Trader, Shehu Usman who confirmed the development told Daily Trust that the CBN fulfilled their...- ProfRem
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Business Naira Rate: Bureau De Change Operators Kick, Reject CBN FX Policy
Bureau de Change (BDCs) operators in Nigeria are kicking over Central Bank of Nigeria's adjustment in forex policy. The CBN on Monday adjusted by reviewing the naira-dollar rate for travelers, students and Medical fees from 376 to 360 and ordered to start honoring the new rate with immediate...- ProfRem
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Business Dollar Scarcity Forces Naira To 495 At Parallel Market
The Naira on Thursday depreciated further at the parallel market, ebbing close to the projection of speculators, the News Agency of Nigeria reports. NAN reports that at the twilight of 2016, speculators forecasted that the Naira would exchange at N500 to a dollar. The Nigerian currency lost N3...- ProfRem
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Business Naira - Dollar Crisis: BDC Operators React To Elimination of Parallel Market
The President of Bureau De Change Operators of Nigeria (ABCON), Alhaji Aminu Gwadabe has hailed the newly proposed abolition of the parallel market. “The scrapping of multiple markets outside the purview of the CBN will be a welcome development. “The existence of multiple rates is highly...- ProfRem
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Business Naira Falls To 470 As Fresh Dollar Scarcity Hits Forex Market
The local currency had appreciated to around 450 after security agents carried out series of raids on Bureau De Change operators, who sold the greenback above the N400 stipulated by the Central Bank of Nigeria. Security agents have been raiding the offices of the BDC operators, ordering them to...- ProfRem
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Business Naira on Recovery Path As Travelex, Firstbank Begin Sales in Abuja, Kano, Port Harcourt
Liquidity challenges in Abuja and environs will ease further as Travelex and First Bank of Nigeria Plc begin the sale of Forex to Bureau De Change operators in the North. Alhaji Aminu Gwadabe, the President, Association of Bureau De Change Operators of Nigeria, disclosed this to NAN in an...- ProfRem
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Business Naira to Record Gain Next Week - BDCs
Nigerian naira may stabilise on the parallel market after international money transfer agencies started selling dollars to Bureau De Change operators in line with the Central Bank of Nigeria directive. The naira was quoted at 473 to the dollar on the black market on Friday, compared with 480...- ProfRem
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Business CBN Directs Bureau De Change Operators Not To Sell FX Above 2% Margin
The Central Bank of Nigeria on Tuesday directed Bureau De Change operators not to sell foreign exchange above two per cent margin of the buying rate. A statement by W.D Gotring, the Acting Director, Trade and Exchange Department of CBN, also directed authorised dealers not to sell foreign...- ProfRem
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Business Nigerian Banks Begin Dollar Sale To Black Market Operators
Nigerian banks are set to sell foreign currencies to Bureau De Change Operators (BDCs). An accountant, Mr Harisson Owoh, on Monday said that the Naira will be on the path to recovery as sale of dollar to the BDC, popularly known as Abokis begin. Owoh, a BDC operator, in Lagos said that its...- ProfRem
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Business CBN Directs Banks To Sell Forex To Bureau De Change Operators
The Central Bank of Nigeria (CBN), yesterday directed authorized dealers who are agents to approved international money transfer operators, to sell foreign currency accruing from inward money remittances to licensed bureau de change operators in the country. The bank in a circular referenced...- ProfRem
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