Data from the FMDQ Stock Exchange, a platform that oversees foreign exchange (FX) trading in Nigeria, showed the local currency opened at an exchange rate of 781.49 naira to the dollar and sold to an intraday high of 799.9 naira. was done. , before settling with N773.4/$.
Wednesday's I&E window saw foreign exchange transactions totaling $45.34 million.
Meanwhile, currency exchange (BDC) operators who spoke to TheCable in the Victoria Island district of Lagos, a parallel market where dollars are traded informally, said demand for dollars from importers and travelers was low. said it was still high.
The dealer has set the dollar buy price at 885 naira and the sell price at 905 naira, with a profit margin of 20 naira.
"Demand is still high. The dollar is also rising," said Muhammad, a forex trader on the market.
On the parallel market last Friday he sold his N865 for $1.
The Central Bank of Nigeria (CBN) recently released a new operational mechanism for foreign exchange sales by his BDC operators in the country.
This comes 25 months after suspended CBN President Godwin Emefiere announced the end of forex sales in this segment of the forex market.
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