The dollar pulled back at the parallel market at the weekend on the strength of rising market optimism and ease of panic over the stoppage of foreign exchange sale to the bureau de change (BDC) operators.
The dollar traded between N505/$ and N515/$ in the Lagos market at the weekend. On Wednesday, a day after the announcement of the new policy by the Central Bank of Nigeria , the naira fell to N525/$ raising the fear that it would hit N550/$ in the next few weeks.
“Further to the Monetary Policy Committees , tuition fees, Medical payments, SMEs transactions, amongst others. Some of the traders told The Guardian at the weekend that dollar requests had dropped significantly, starting from late hours of Friday.
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