CBN To Increase Dollar Sales To BDC Operators

The Naira is expected to appreciate in the
following week, after the Central Bank of Nigeria
(CBN) says it will increase dollar sales to Bureau
De Change (BDC) operators.
Experts expressed hope that the development
would improve liquidity and also help to boost the
Naira.
The local currency currently trades at 410 Naira to
a dollar on the parallel market, compared to 398
Naira it traded last week.
Following the increase in demand for dollars, the
Naira depreciated further in the parallel market as
the exchange rate rose from 407 Naira to 410
Naira per dollar.