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Nigerian naira on Monday fell 1.45% to 310.50 to a United State Dollar at the inter-bank market, despite Travelex sale of dollars to the Bureau De Change operators.
The currency closed at N305.99 to the dollar on Friday, according to data compiled by Bloomberg.
Travelex, a foreign exchange deal started sale of dollars to Bureau De Change operators and other travelers at the Nigeria's airport to cushion to effect of scarcity of the dollar on Nigerian naira.
At the parallel Market, the currency remain steady at N473 to the dollar.
The dollar inflow, being disbursed by Travelex, is part of the country’s Diaspora remittances estimated at $21bn annually.
The President, Association of Bureau De Change Operators of Nigeria, Aminu Gwadabe had on Thursday, last week urged all ABCON members and other BDC operators to visit the CBN branches in their respective zones for biometric data capturing by Travelex with an expectation that the currency will gain this week.
The currency closed at N305.99 to the dollar on Friday, according to data compiled by Bloomberg.
Travelex, a foreign exchange deal started sale of dollars to Bureau De Change operators and other travelers at the Nigeria's airport to cushion to effect of scarcity of the dollar on Nigerian naira.
At the parallel Market, the currency remain steady at N473 to the dollar.
The dollar inflow, being disbursed by Travelex, is part of the country’s Diaspora remittances estimated at $21bn annually.
The President, Association of Bureau De Change Operators of Nigeria, Aminu Gwadabe had on Thursday, last week urged all ABCON members and other BDC operators to visit the CBN branches in their respective zones for biometric data capturing by Travelex with an expectation that the currency will gain this week.