Following the suspension of foreign exchange sales by CBN, Currency Analysts predicted the fall of Naira, and said that the currency will remain weak until the the first week in January.
Naira weakens further against Dollar at N265 to $1
The Nigerian Naira has further weakened against the United states dollar (USD), after rising to 265 from 263 on Monday, January 4, 2016.
Alhaji Aiminu Gwadabe, Acting President of Association of Bureau De Change Operators, told Punch that CBN plans on selling $10,000 each to the BDC (Bureau De Change) operators. He further added that the weekly forex sale was expected to positively impact on the exchange rates.
Recently, CBN denied sale of forex to over 1,600 BDC's , because of their failure documents for previous allocations. And also reduced its weekly forex sale to the BDC from $30,000 to $10,000.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
BDC operators' president warns against naira speculation, vows unified market
Olorunfemi emerges Ondo LP guber candidate as other aspirants fail to buy ₦25m form
Gov Alia vows to demolish property housing kidnappers, Yahoo boys in Benue
Tinubu appoints former Rivers lawmaker, ex-Naval officer as heads of NESREA, NDRBDA
Court accuses EFCC boss of contempt over handling of Yahaya Bello's case
Fubara donates ₦350m as Navy moves training headquarters from Lagos to Rivers
Bandits invade Defence Minister's hometown, kill 1, abduct scores
Cardiologist bags 4-year jail term over patient deaths
We must continue to support President Tinubu - Ododo tells Kogi residents
ADVERTISEMENT