The N3.00k or 0.6 percent gain was attributed to improve liquidity following about $19.5 million purchased by the BDCs from Travelex last week Thursday. Each of the 1,300 in Lagos out of about 3,000 across the country received a total of $15,000 from the international money transfer operator.
The local currency remained stable at the parallel market, closing at N470 per dollar. However, naira depreciated in value against the dollar at inter-bank spot market, closing at N308.81/$ on Monday from N304.50 on Friday last week, which is about 1.42 percent lost.
Aminu Gwadabe, acting president, Association of Bureau De change Operators of Nigeria (ABCON) said yesterday that the market is beginning to gain confidence as the Central Bank of Nigeria (CBN)plans to licence more IMTOs to ensure availability of forex in the market.
He noted that BDCs outside Lagos have started getting dollar following the approval of the Apex bank which allows First Bank to sell to BDCs outside Lagos.
“We expect positive development at the foreign exchange as more BDcs get dollar from First Bank”, Gwadabe said on phone.
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