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Naira loses against dollar at the parallel market - The Nation

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Naira loses against dollar at the parallel market

Barely 24 hours after the Central Bank of Nigeria resumed dollar sales at the Bureau De Change sector, the Naira have reversed the gain made against the dollar.

Trading at the investor’s window saw the naira closing at N386.21 to a dollar as investors traded a total of 45.22 million dollars.The naira, however, closed at N379 to a dollar at the official CBN window. Meanwhile, Prof Sheriffdeen Tella, a Senior Economist at the Olabisi Onabanjo University Ago-Iwoye, Ogun, noted that the volume of FOREX sold to BDCs was insignificant relative to the demand for dollars.

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