Bureaux De Change operators to TheCable that they purchase the greenback at N685/$, make a gain of N7 and then sell at N692.
According to the traders, the persistent naira depreciation is due to increased demand by customers and the scarcity of the dollar.“I know a trader who wants to buy goods from China. He has been looking for $40,000 in this market but he has not gotten it since 10 am,” a BDC operator told TheCable. At the official market, the naira also depreciated by 0.09 percent to close at N429.43/$ on Monday, according to information obtained from FMDQ OTC Securities Exchange — a platform that oversees official foreign exchange trading.
To reduce the persistent FX pressures in the country, the World Bank and the International Monetary Fund have advised the Central Bank of Nigeria to
Every nation is experiencing free fall
When will naira hit 1k?
Where can I see naira chart ?, Please help