The foreign exchange market opened on Thursday morning with an indicative rate of N387.25k per dollar at the Investors and Exporters (I&E) forex window.
This represents N0.88k gain over N388.13k opened with on Wednesday, data from FMDQ revealed.
The market closed at N386.42k/$ on Wednesday as against N386.33k closed with on Tuesday.
At the black market, the Naira/dollar exchange rate remained unchanged at N460, traders said on Thursday.
At the retail Bureau, Naira depreciated by N5.00k as the dollar was sold at N462 on Wednesday from N457 sold on the previous day.
Aminu Gwadabe, President, Association of Bureaux De Change Operators of Nigeria (ABCON) said the Central Bank of Nigeria (CBN)-licenced Bureaux De Change (BDCs) will soon start full operations as the apex bank will soon reopen dollar sales to operators.
The Apex bank on March 26, suspended foreign exchange sales to the Bureau De Change (BDC) operators until further notice due to the Covid-19 lockdown as requested by the operators. The suspension not withstanding, some BDCs are still active in the market.
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Hope Moses-Ashike
Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks.
She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings.
Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.
