Naira Appreciating Faster Than Expected — BDC Operators Cry out

One of them, Aminu Gwadabe, said it’s the first time in the last 15 years that dollar will exchange in the parallel market lesser than that of the official rate.

He added that as of Tuesday afternoon, the BDC operators buy the dollar at N980/$1 and sell at N1,020/$1, as against the official rate of N1161/$1 by the CBN.

The naira has appreciated against the dollar in recent weeks, gaining over 40%, from about N1,900/$ early January to about N1,100/$1 now.

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