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Naira Depreciates Against Dollar Amid CBN Fresh Guidelines to BDCs

Posted by Thandiubani on Fri 24th May, 2024 -

FMDQ data showed that naira depreciated against the dollar on Thursday.

The Naira has depreciated against the Dollar at the foreign exchange market.
This comes amid the Central Bank of Nigeria issuance of fresh guideline to Bureaux De Change Operators.
FMDQ data showed that traded depreciated N1485.66 per dollar on Thursday from N1462.59 recorded on Wednesday.
This represents a N23.07 lose compared to N1462.59 it traded on the previous day.
Similarly, the Naira depreciated to N1460 per Dollar in the parallel market section on Thursday from N1450 on Wednesday.
Accordingly, depreciation is the first since the Naira shedded N73 against the Dollar seven days.
The development comes barely 24-hour after the Central Bank of Nigeria ordered Bureau De Change operators re-apply for licenses.

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