Naira strengthens to N665/$ at parallel market -- days after EFCC raided BDC hub | TheCable

Wasilat AzeezThe naira, on Tuesday, sustained its momentum at the parallel market, appreciating to N665 per dollar a few days after security operativesN695 to a dollarCurrency traders known as Bureaux De Change operators at the Ikeja area of Lagos, who spoke to TheCable, quoted the buying rate of the greenback at N650 and the selling price at N665 per dollar.

On the official market side, the naira appreciated by 0.03 percent to close at N428.88 to a dollar on Monday, according to data on FMDQ OTC Securities Exchange, a platform that oversees official foreign-exchange trading in Nigeria. “The current situation tells you that if you allow the market to work, it will find its level. We were blaming aboki fx before.”

officialEFCC Not enough. It must be shelved to half of the CBN official rate, if we are to breathe the air of freedom.

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