Bureaux De Change operators, popularly known as ‘abokis’, who spoke to TheCable in Lagos, quoted the naira at N825 to a dollar.The traders put the buying price of the dollar at N790 and the selling price at N825, leaving a profit margin of N35.“Dollar is coming down. It may go down to N800 soon. There is plenty of dollars in the market now for people to buy,” a BDC operator in the Victoria Island area of Lagos told TheCable.
On the official market side, the local currency depreciated by 0.13 percent to close at N446.10 on Tuesday, according to details on FMDQ OTC Securities Exchange — a platform that oversees official foreign-exchange trading in Nigeria. An exchange rate of N460 to the dollar was the highest rate recorded within the day’s trading before it settled at N446.10.
It sold for as low as N440 to the dollar within the day’s trading. A total of $72.69 million was traded in foreign exchange at the official investors and exporters window window.
WHO appreciate am?
825 appreciation? Kai! This country, na only God go save us.
825 na be appreciate una dey mad