The Nation Newspaper Forex speculators post heavy losses as naira rebounds
The naira rebound happened about 24 hours after the Supreme Court judgment affirming President Bola Ahmed Tinubu’s victory at the 2023 Presidential elections.
Sarki said funding for BDCs or getting the banks to sell dollars to retail end buyers will boost dollar liquidity and bring greater mileage to the naira. It has in the last few years remained the most active channel of dollar transactions in the official market. He said the challenges confronting the nation’s forex market and depreciation of the naira require all hands to be on deck, and the BDCs, which are licensed to play at the retail end of the forex market, should be fully involved in providing lasting solution to the ongoing volatility in the exchange rate.
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