More Hope For Naira/Dollar As CBN Sells Dollars To Bureau De Change Operators

There seems to be rising hope in the depreciating battle of the Naira against the Dollar as the Central Bank of Nigeria, CBN, traded about 80 Million Dollars to bureau de change operators yesterday.

According to the president of the bureau de change operators, Aminu Gwadabe, the CBN has also put on hold its directive asking them to request Dollar buyers provide their Bank Verification Number, BVN, the new biometric identification for commercial banks customers.

The Naira had weakened on the parallel market to as much as N242 to the dollar last month, on persistent dollar demand after CBN limited importers' access to dollars on the official interbank market to buy a wide range of goods, in order to save its reserves.

Meanwhile, more banks still continue to reject Dollar cash deposits.

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