BDCs now buying dollars at N980/$, naira appreciating faster than expected – ABCON President confirms

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The Association of Bureau De Change Operators of Nigeria (ABCON) said that as of Tuesday, the Bureau De Change (BDC) operators were buying dollars at N980/$ at the open market and selling at N1,020/$.

 

This was confirmed by the President of ABCON, Aminu Gwadebe while featuring on a Channels Television programme, Business Incorporated, where he stated that the naira has appreciated faster than expected against the United States Dollar.

 

Gwadebe applauded the government and the Central Bank of Nigeria for its efforts so far, saying it’s the first time in the last 15 years that the exchange rate for the dollar in the parallel market is less than that at the official window.

 

He acknowledged that there is now calmness in the market as speculation which has been one of the major destabilization factors is no longer there.

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