The dollar exchanged for N412 on Monday at the Bureau De Change segment of the market.
This followed a temporary suspension of sale of forex to the Bureau De Change operators in the industry by the Central Bank of Nigeria.
The Association of Bureaux De Change Operators of Nigeria had asked the CBN to grant it market holidays, given the challenges brought on by the Coronavirus epidemic. The CBN then granted the BDCs two weeks market holiday as requested.
The BDCs had bemoaned the decline in demand for forex due to the impact of the COVID-19 on the economy, as many businesses were down and many people were not traveling.