HomeNewsForex Sellers Take Sales Holiday On Thur To Help Naira

Forex Sellers Take Sales Holiday On Thur To Help Naira

A ‘NO SALES POLICY’ is reportedly being implemented by the Bureau De Change, BDC union Today Thursday.

They embarked on the move in the face of the continuous market devaluing of the Naira in relation to other currencies, which saw the Nigerian money crashing to about N1,520 per dollar on Wednesday.

Their decision came after serious deliberations on how to reduce the fall of the naira, according to Twitter sources.

One Abuja Bureau De Change operator disclosed: “Nobody is coming to market tomorrow.  We want to close the market because honestly, the naira is just crashing anyhow.

“This was caused by some media reports this week that the dollar was now selling for N1,500 even though we were still selling at N1,400. Now everybody is blaming Black Market operators and that’s why we decided that the market will remain closed tomorrow.

“We will resume next tomorrow, and the rate should be less than N1,400/$.”

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