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'Dollar scarcity now scary' -- naira slumps to N1,225/$ at parallel market

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Nigeria's independent online newspaper

Bureaux De Change operators, popularly known as ‘abokis’, told TheCable that the high FX rate was largely driven by volatility and the scarcity of the greenback.The currency traders quoted the buying rate of the dollar at N1,215 and the selling price at N1,225 per dollar, leaving a profit margin of N10.FMDQ OTC Securities Exchange

“We are committed to encouraging liquidity based on reforms that have been made at the moment, on the fiscal side and the monetary side. And together with the restoration of trust and confidence we think the FX flows will return,” the minister said.

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'Dollar scarcity now scary' -- naira slumps to N1,225/$ at parallel marketNigeria's independent online newspaper
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