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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 last week.
At the interbank market, the naira closed at 306 per dollar.
“We have started receiving dollar supply from Travelex and we expect this to gradually impact positively on the naira exchange rate going forward,” the President, Association of Bureau De Change Operators of Nigeria, Aminu Gwadabe, told Reuters.
The naira was quoted at 473 to the dollar on the black market on Friday, compared with 480 last week.
At the interbank market, the naira closed at 306 per dollar.
“We have started receiving dollar supply from Travelex and we expect this to gradually impact positively on the naira exchange rate going forward,” the President, Association of Bureau De Change Operators of Nigeria, Aminu Gwadabe, told Reuters.
