Naira appreciates as BDCs get forex allocation | Nigeria Newspaper- Nigeria News| Naija News

1.10.16

Naira appreciates as BDCs get forex allocation

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Naira appreciates as BDCs get forex allocation
The Naira yesterday appreciated at the parallel market as the Central Bank of Nigeria (CBN) commenced forex allocation to Bureau De Change operators across the country.

The naira, which exchanged at 492 on Thursday, appreciated to 470 to a dollar yesterday.
The chairman of the Association of the Bureau De Change Operators, Aminu Gwadabe confirmed to Daily Trust that about 900 of his members have received allocations from CBN via Travelex of $10,000 each at the rate of N346/dollar between Thursday and Friday, which reduced the scarcity of the currency in the market.

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