A credible BDC source that chose to remain anonymous express grieve Yesterday on the convergence of Naira rates against dollar that many BDCs has been trading at a loss, this as a result of Closing Rates on Wednesday which shows the Naira appreciated against the dollar at the parallel market.
Exchanging at N363 to the dollar from the N364 reported on Tuesday. While the pound sterling and Euro closed at N477 and N428 to the naira, respectively at Bureau De Change (BDC) Window.
Trading at the investors’ window saw the naira closing at N367.50 to the dollar. Traders expressed optimism that the interventions by the CBN at the market were capable of closing the gap further between the rates at the parallel market and other segments. Not all the BDCs in the South West bought foreign exchange from the weekly auction on Tuesday.