Many Bureau De Change (BDC) operators, and Forex speculators have experienced palpable fears and many of them have temporarily stopped trading the greenback over the uncertainties surrounding the sudden appreciation of the naira value with respect to the dollar in recent days.

As at last week Wednesday and Thursday, the naira tremendously weakened to a record low of N1,300 to a United States dollar over the scarcity of the greenback and continuous demand. However as at Friday one week ago, the naira strengthened to N1,250 per dollar and since then it has continued to gain value.

The pressure on the foreign exchange market eased on Tuesday and Wednesday as naira appreciated against the dollar at the official market.

Bureaux De Change (BDC) operators has been reporting that the scarcity of the dollar is graduating receding and helping to strengthen the naira value across Nigeria and many of them have reported completely halting forex trading over the uncertainties and spontaneous appreciation of the naira.


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