The Naira – Dollar rate now currently sells at N213 to a dollar at the black market and N211 to a dollar at the Bureau De Change segment of the official market.
An anonymous dealer told NAN that the depreciation is connected with the trading closure at the interbank market by the Central Bank of Nigeria (CBN). He also said that the Central Bank of Nigeria’s decision, which was meant to control speculations in the market, might be responsible for the depreciation.
Meanwhile the Naira – Pound exchange rate now sells at N307 Bureau De Change and N314 at the black market. However, it exchanged against the euro at N235 at the BDCs, while it sold for N237 at the black market.
On January 28, Godwin Emefiele, governor of the CBN, directed that only Bureau De Change’s and banks with genuine demand for foreign exchange should get forex allocation. He said the apex bank put up measures to calm the strong volatility observed in the forex market to save the naira from further depreciation. It increased the weekly supply of dollars per Bureau De Change operator from 15,000 dollars to 30,000 dollars and also set aside extra 30,000 dollars to the Bureau De Change sector.
No comments:
Post a Comment