The naira, on Thursday, weakened to N1,160 per dollar at the parallel section of the foreign exchange (FX) market. The figure represents N10 or 0.87 percent depreciation compared to the N1,150 it traded two weeks ago. Currency traders known as Bureau De Change operators (BDCs), who spoke to TheCable in Lagos, quoted the buying rate of the greenback at N1,140 and the selling price at N1,160 per dollar – leaving a profit margin of N20. “The rate has been quite stable for a while,” a street trader who identified as…
Read MoreNAIRA STILL GOING DOWN, EXCHANGES FOR N1,160/$ AT PARALLEL MARKET
