Naira falls to N930/$ at parallel market as BDCs lament dollar scarcity

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The naira, on Wednesday, depreciated to N930 per dollar at the parallel section of the foreign exchange market.

per dollar at the parallel section of the foreign exchange market.on August 23.

Currency traders known as Bureaux De Change operators , who spoke to TheCable in the Ikeja area of Lagos, said the plungeand the selling price atA BDC operator, who simply identified as Shehu, said “even some Nigerians are unable to withdraw forex from the banks”. He said the lifting of the ban by the Central Bank of Nigeria on sales of forex to BDC operators has failed to help resolve the scarcity, as the banks are not selling to the BDCs.

Meanwhile, at the official market, the local currency to close at N742.10 on Tuesday, according to data from FMDQData from FMDQ showed that the market opened at N761.24 to the dollar,A total of $42.26 million was traded in foreign exchange at the official investors’ and exporters’ window window.

 

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