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7 months ago
Nigeria's retail currency traders set FX rate at 399/US$ this week
January 10, 2017 / 10:29 AM / 7 months ago

Nigeria's retail currency traders set FX rate at 399/US$ this week

1 Min Read

LAGOS, Jan 10 (Reuters) - Nigeria's bureau de change operators said on Tuesday they would start publishing a weekly reference exchange rate for the naira, in a bid to reduce the gap with the official interbank market rate.

Aminu Gwadabe, president of the Bureau de Change association, told reporters that his members had agreed to set their rate at 399 naira to the dollar for this week.

The naira trades at 305 on the official interbank market but has been quoted as weak as 490 on the open retail market in recent days. (Reporting by Oludare Mayowa; Writing by Chijioke Ohuocha)

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