Change Operators of Nigeria (ABCON)

Naira depreciates against dollar in parallel market

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Naira dollar

On Monday, the naira faced depreciation in the parallel section of the foreign exchange (FX) market. In Lagos, bureau de change (BDC) operators, commonly known as currency traders, reported the naira trading at N1,520 to the US dollar. The buying price was set at N1,490, while the selling price stood at N1,520, giving traders a … Read more

Again, Naira exchange rate suffers setback, hits N1,510 per dollar

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Dollar and naira

Over the weekend, the value of the naira experienced a decline, with the currency trading at N1,510 to a dollar on the parallel market and 1,466.31 at the official market. This recent depreciation marks a reversal in the trend, as the naira had previously shown signs of stability against the dollar, trading below N1,000, following … Read more