By InvestAdvocate New York (INVESTADVOCATE)-The Central Bank of Nigeria (CBN) in its effort to stabilise the naira has authorised agent banks approved for international money transfer operators to sell foreign currency accruing from inward money remittances to licenced Bureau De Change operators. This is contained in a circular with reference […]
Tag: bureau de change
Naira now 300/dollar as forex supply slows
February 25, 2016/Punch By Oyetunji Abioye The naira rose further on Wednesday against the United States dollar at the parallel market to 300 from 310 on Tuesday. The local currency, which closed at 391 against the greenback last Thursday, had risen to 375 and 310 on Monday and Tuesday, respectively. […]
Naira falls to 325 on dollar shortage
The naira hit a record low of 325 to the dollar at the parallel market on Thursday as desperate importers scrambled for dollars to meet their obligations overseas. The local currency had closed at 318 against the greenback on Wednesday, after hitting 313.5 and 310 on Tuesday and Monday, respectively. […]
