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BDCs blame lack of anchor price, disorganized market for naira to dollar exchange rate crash

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SMACIN GRACEFULL TEAM BDCs blame lack of anchor price, disorganized market for naira to dollar exchange rate crash It was the first day of the week and Abu was on the 3rd mainland when a customer called him asking for the exchange rate between the naira and dollar. He informed the customer that it was N630 to the US dollar. ADVERTISEMENT By the time he descended from the bridge he called the customer back informing him that the price was now N640 to the dollar and offered no explanation why. The bemused buyer on the other line hung up and never called back. ADVERTISEMENT Another, buyer Ken, purchased an inflow of $15,000 from his Aboki at N655/$1 out of his demand for $70,000. An hour later Aboki called telling him he now has an additional $30,000 cash but the rate was now N660/$1. ADVERTISEMENT Ken had no choice but to purchase, instructing the Abo

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