Naira Sustains Loss Against Dollar

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november 2019

Also, the Pound Sterling and the Euro closed at N490 and N430 respectively. At the BDC window, the Naira was sold at N362 to a dollar, while the Pound Sterling and the Euro traded at N500 and N428 respectively. Trading at the interbank market saw the Naira closed at N306.20 to the dollar. A currency trader told newsmen that dollar had remained scarce in the market in spite of the injection of foreign exchange at the interbank market and the BDC window. Alhaji Aminu Gwadabe, the President, Association of Bureau De Change Operators of Nigeria (ABCON), decried the movement of illicit funds across the nation’s borders. Gwadabe said that the BDCs were ready to cooperate with the CBN to see rates convergence at the market. He urged security operatives to be on the lookout for the movement of “hot money’’ across the nation’s borders. Newsmen report that the CBN had not relented in providing foreign exchange to end users. The CBN had on April 4 injected 10,000 dollars to BDCs nationwide to checkmate the activities of currency hoarders and speculators. Vanguard Newspaper For Adverts Placement Or Free News Updates, Contact Us On WhatsApp: 08083609209. Email editor@skytrendnews.com To Publish Your Articles. ]]>