Newsonline reports that the exchange rate at various BDCs located within Nigeria’s Murtala Mohammed International Airport sold at about N592/$1 for travelers looking to buy dollars.
This is according to Nairametrics’ investigation at the Nation’s busiest airport over the weekend.
The exchange rate for travelers looking to buy dollars sold between N590 to N592 to the dollar for travelers who want to buy the greenback over the counter. This is over N170 premium to the official NAFEX exchange rate which is used by the central bank to sell dollars to Nigerians seeking personal or business travel allowances.
Some BDC operators also predict the exchange rate could depreciate further if the scarcity persists. According to some who spoke to our analysts, the number of inward travelers selling dollars to them has reduced in comparison to outward travelers and is perhaps contributing to the scarcity.
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