Naira is gradually appreciating against the US Dollar as Bureau De Change (BDC) operators have reviewed the price.
Gatekeepers News reports that the Naira which crashed drastically in the past weeks to over N700 per 1$, started gaining value after the Economic and Financial Crimes Commission (EFCC) stormed some BDC hotspots in the Federal Capital Territory (FCT) in Abuja and also Lagos State.
Exchange Rate of Dollar To Naira in The Parallel Market
Gatekeepers News confirms that dollar opened in the parallel market for ₦620 per $1 today, August 10, after BDC operators reviewed the price.
The BDC operators who attributed the earlier hike in the exchange rate to corruption, assured that they will continue to monitor the market to ensure a controlled rate.
What Is The Official Exchange Rate For Dollar To Naira Today?
The exchange rate between the Naira and the US dollar according to the data released on the FMDQ Security Exchange the official forex trading portal showed that the Naira opened at ₦429.58 per dollar on Tuesday, August 9, 2022, and closed at ₦428.75 per $1 on Tuesday, August 9, 2022.
EFCC’s Role
The EFCC had raided some BDC hotspot in Abuja and Lagos after the local currency depreciated drastically and raised growing concerns among Nigerians and organizations.
EFCC chairman, Abdulrasheed Bawa also met with BDC operators in Abuja, in an attempt to check foreign exchange speculation, which led to a drastic drop in the value of the naira, according to the anti-graft agency.
He had disclosed that the Commission has intelligence linking some persons and organizations to the hoarding of foreign currencies especially the United States Dollars in the key commercial cities of Kano, Lagos, Port Harcourt, Enugu, and Calabar.
The EFCC boss warned those involved to desist or risk arrest as a major offensive against the speculators is underway.
The EFCC is planning to meet Bureau de Change operators in the major commercial cities across Nigeria as well as with key players, regulators, and operators of the Nigerian Financial Sector.
