The Nigerian currency on Wednesday, January 10, sustains strength against the United States of America Dollar at the parallel segment of the Nigerian Foreign Exchange Market.
On Wednesday, the local currency traded at the rate of at N363 against the Dollar at the black market. Against the British Pound Sterling, the naira traded at the rate of N485 and exchanged at the rate of N432 against the European Single Currency, Euro.
Meanwhile, the President of the Association of Bureaux De Change Operators of Nigeria, ABCON, Aminu Gwadabe has given suggestions for a more stable exchange rate in 2018.
The ABCON Boss urged the Central Bank of Nigeria, CBN, to ensure the convergence of deposit money banks rate and that of the BDCs to buoy a healthy competition which will in turn strengthen the naira.
