Currency traders known as Bureaux De Change operators , who spoke to TheCable in Lagos, quoted the buying rate of the greenback at N700 and the selling price at N707 per dollar.Advertisement
The Central Bank of Nigeria has consistently maintained that the parallel market represents less than one percent of foreign exchange transactions and should never be used to determine Nigeria’s naira/dollar exchange. On the official market side, the naira depreciated by 0.29 percent to close at N436 to a dollar on Tuesday, according to data on FMDQ OTC Securities Exchange, a platform that oversees official foreign-exchange trading in Nigeria.foreign exchange earnings through official channels to ease the pressure on the naira.“We are taking FX out of this country and dumping offshore; when we were told to bring them back. If Nigerians are bringing back FX, we would not be talking about the challenges of FX.
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