The naira has been firming up in the last few
days as politicians pumped stockpiled dollars into the economy for campaigns, The Nation has learnt.
The naira, which exchanging at N361 to dollar
early last week, firmed at N357 in the parallel market at the weekend, as
politicians flooded the market with the greenback. Major political
parties have been conducting their governorship primaries.
Speaking on the development, President,
Association of Bureaux De Change Operators of Nigeria (ABCON) President Aminu
Gwadabe said “several customers were seen at the weekend, flooding the market
with dollars possibly for primary elections and screening across party lines”.
He said the Bureau de Change (BDC) operators
were taking advantage of the development to earn commissions from naira
exchanges for the dollars, adding that the naira has made considerable gains in
the last few days.
No comments:
Post a Comment