The Nigerian Naira on Friday afternoon, January 13, stayed unchanged against the major foreign currencies at the parallel market.
Recall that the Naira yesterday, edged closer to a landmark 500 units per dollar as it dropped N3 to trade at N495 to the dollar.
Graph showing the black market rate from 2015-2016
However, the local currency has stayed firm against the dollar at the same rate today, while also exchanging at same rate of N597 and N515 against the Pound Sterling and the Euro respectively, Bureau De Change (BDC) sources told ZENITHBLOG.com.
Traders have blamed acute forex scarcity for the spike in the exchange rate.
Dollar to Naira
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But reports suggesting that the Central Bank of Nigeria will resume sales of dollar to BDCs have raised hopes that the Naira will strengthen in the coming days.
According to a report on Vanguard, CBN will resume sales of dollar proceeds of international money transfer (IMT) to BDC operators next week.
The CBN Governor, Godwin Emefiele, disclosed this during a meeting with executives of Association of Bureau De Change Operators of Nigeria (ABCON).
Recall that the sale was suspended last month due to the Christmas and New Year holidays.
But Emefiele has assured ABCON executives that the apex bank will resume dollar sales to BDCs so as to ensure stability of the Naira exchange rate.
360naze
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