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Home Business News

Travelex Will Sell $45 million to 3,000 BDC’s Today (7th of October)

Nairametrics by Nairametrics
October 7, 2016
in Business News, Spotlight
Get Ready: $1= N285 Official Rate Could Be Coming Soon
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RelatedPosts

EFCC battles black market to boost naira, local currency gains N60 to $1 within a week

Naira falls to N700/$1 at black market

  • Global Foreign Exchange Dealer,Travelex will on Friday 7th of October sell about $15,000 to each of the 3,000 registered Bureaux De Change operators in the country.
  • This means a total of about $45 million will be injected into the forex market on Friday.
  • Before now, $10,000 each was sold to BDC’s
  • According to reports, the dollar inflow is sourced from foreign remittances estimated to be about $21 billion annually.
  • The dollar closed at N306 according to the website of the FMDQ
  • It closed at about N474/$1 in the black market.

 

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