The Central Bank of Nigeria (CBN) has announced it will once again sell dollars to bureau de change operators.
This was disclosed in a circular posted on its website.
The CBN said it is set to sell $10,000 to each BDCs at N1101/$ and directed the operators to sell at a spread not more than 1.5 per cent above the CBN rate.
Advertisement
The CBN listed 1588 Bureau De Change firms that are expected to get the $10000 each.
The new rate of N1101 to the Dollar is lower than the last price of N1241 to the Dollar.
The new rate is expected to also help in driving down the value of the Dollar against the Naira making it a better overall development for the Nigerian Economy.
Advertisement
Related posts:
CBN Suspends sale of Forex to Bureau De Change
Bureau De Change operators appeal for inclusion in FX Policy
CBN to sell $500m FX to manufacturers
CBN reviews forex Policy, empowers banks to sell more BTAs, PTAs,
CBN directs banks, BDCs to sell forex to travellers
CBN directs payment service banks to sell dollars
Energy firms urge CBN to sustain forex intervention
CBN stops firms, individuals from bonds purchase
