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Bureau De Change
Naira depreciates marginally against dollar
The News Agency of Nigeria (NAN) reports that the Nigerian currency lost 50 kobo from N365 posted on Wednesday, while the Pound Sterling and the Euro closed at N487 and N436.
Naira sustains gain at parallel market
At the Bureau De Change (BDC) window, the naira was traded at N363 to the dollar, while the pound sterling and the Euro closed at N477 and N428, respectively.
Why exchange rate remains high amid interventions
But since February this year when CBN liberalised further the foreign exchange market, it has put no less than $5 billion, most of which are in forwards sales with maturity dates ranging 30, 45, 60 days to one year.
Court orders final forfeiture of N449.5m abandoned cash
The Judge ordered that the funds should be forfeited to the Federal Government, as no one came forward to claim it.
Naira rallies around N390/$ at parallel market
At the Bureau De Change (BDC). the local currency was sold at N362 to the dollar, while the pound sterling and Euro closed at N495 and N420, respectively.
Bureau de change operators seek N10/$ margin to check sharp practices
The Association of Bureau De Change Operators of Nigeria (ABCON) has asked for a N10 margin per dollar from the Central Bank of Nigeria (CBN). Granted, ABCON said, it could check operators’ tendency for round tripping.
CBN auctions $418m to some sectors to boost forex liquidity
The CBN acting Director, Corporate Communications, Mr Isaac Okorafor said in Abuja that the $480m offered last week was in addition to the $350 million sold as wholesale auction for travel allowance and school fees at the same period.
CBN’s indecision responsible for Naira slide, says ABCON Chief
Gwadabe, who is also the President, Association of Bureau De Change Operators of Nigeria (ABCON), said recent depreciation of naira could be traced to speculators’ onslaught and resistance by the banking industry.
Naira sells at N400 to dollar
At the Bureau De Change (BDC) window, the Naira closed at N400, while the Pound Sterling and the Euro traded at N530 and N465 respectively.
Naira trades at N455 to a dollar at black market
In other segments of the market, Deposit Money Banks (DMBs) and Travelex, an International Money Transfer Services Operator, sold the naira at N381 to a dollar.
Naira sustains gain as dollar crashes at parallel market
At the Bureau De Change (BDC) window, the Naira closed at N399 to a dollar CBN controlled price, while the Pound Sterling and the Euro exchanged at N610 and N520 respectively.
Passengers groan under dollar scarcity, hoarding at airports
Air passengers were thrown into confusion at the weekend when Bureau de Change (BDC) outlets at international airports nationwide declared foreign exchange, especially dollar, out of stock.