The effect of the dollar shortage was also felt on the interbank FX market where the spot rate of the naira also depreciated to N313.07 to the dollar yesterday, from N310.08 to a dollar the previous day.
This is just as Nigeria’s external reserves fell further to $24.759 billion as of September 21, 2016.
The situation on the parallel market was attributed to the refusal by banks to sell dollars to Bureau de Change (BDC) operators.
The President, Association of Bureau de Change Operators of Nigeria (ABCON), Mr. Aminu Gwadabe, said none of his members were able to access dollars from banks as directed by the Central Bank of Nigeria (CBN).
“As I speak to you, no BDC has been able to access FX since Monday. It is very unfortunate that the liquidity in the market has dried up. That is too bad for the market,” the ABCON boss said in a phone chat with THISDAY
LIKE OUR FACEBOOK PAGE BELOW
👇👇👇👇👇👇👇👇👇👇👇👇
👇👇👇👇👇👇👇👇👇👇👇👇
ADVERTISE ON IDOTOB.COM
Is something happening in your area that you want us to Post on Idotob.com? Send to +2349025234066
Follow us on Twitter
Follow us on Instagram
Post a Comment
You can also post your comment through the Facebook box up their.. Click on that Facebook beside 'Blogger' the box will appear
Disclaimer: Opinions expressed in comments are those of the comment writers alone and does not reflect or represent the views of Tobi Idowu.