Reopening of the BDC window for foreign exchange would crash the prevailing spike in the exchange rate.
The U.S. Dollar Index dropped by 0.02% to trade at 95.090 at the time of this report.
The exchange rate disparity between NAFEX rate and back market rate widened by a whopping N84.
Analyst survey expects the dollar to weaken by about 2% to 94.1 by the second quarter of next year.
The U.S. Dollar Index gained 0.19% to 96.858 by 5.56 am local time on Friday.
The U.S. Dollar Index tracks the American dollar against a basket of other major currencies.
The American dollar continues to attract global investors and currency traders.
Fears of a fresh wave of virus infection and renewed lockdown forced the dollar to edge higher.
The naira was strengthened as the commodity-based currency's major earnings, crude oil, remained above the $40 dollar mark
American dollar ended the week cumulatively lower as the possibilities of the second wave of COVID-19 pandemic limited its upside.
