Forex: Naira gains N21.85 against dollar

The naira continued its appreciation against the US dollar on Tuesday at both official and parallel foreign exchange markets.

FMDQ data showed that the naira appreciated to N1,278.58 per USD on Tuesday at the resumption of work after the Easter break, compared to N1,309.39 last Thursday.

This represents a gain of N21.85 compared to the N1,309.39 per USD traded last Thursday.

Similarly, at the parallel market, the naira closed on Tuesday at N1,238.3 per USD.

DAILY POST learnt that operators of Bureau De Change, BDC, bought at N1,220 per dollar and transferred to customers at N1,265 per USD.

This represents a 1.99 per cent appreciation over the N1,280 that closed last week.

DAILY POST recalls that the President of the Association of Bureaux de Change Operators of Nigeria, ABCON, Aminu Gwadabe, said the naira has appreciated by N660 against the US dollar since the Governor of the Central Bank of Nigeria, Olayemi Cardoso, recalled BDC operators into the foreign exchange market.


Business – Daily Post Nigeria