Naira gains against dollar at parallel market

August 29, 2020 by Don Saint 0 Comments

The naira gained slightly on Friday, exchanging for N470/$ in the parallel market in the evening, after selling at N476/$ in the morning.

This followed the Central Bank of Nigeria’s announcement on Thursday to resume forex sales to the Bureau De Change segment of the market.

The President, Association of Bureaux De Change Operators of Nigeria, Alhaji Aminu Gwadabe, said, “The naira has gained over $5/$ yesterday at the close of business due to only announcement of the resumption of sales to the BDCs as it closed at N470/$ from all high of N476/$ in the morning.

The CBN had stated that it would resume foreign exchange sales to the BDCs for business travels, personal travels and other designated retail uses as soon as international flights resumed.

– Punch

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About Don Saint

PR Guru / Author / Promoter / Controversial Writer / Hip Hop Artiste / Actor / Human Rights Activist. The First Nigerian Hip Hop Artiste to obtain a Masters Degree (M.A) in Arts ( Religion & Human Relations). The author of one of the most controversial books in Nigeria; "Emancipation from Masturbation". With over 12 Movies and 3 Musical albums since 2003. Former Events Manager at Silverbird’s Rhythm Fm Awka Station till 2010. For more info. Call : 08033239298.

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