Central Bank of Nigeria sells FX to BDCs at N1,251/$1 to stabilise naira and meet retail demand.
The Central Bank of Nigeria (CBN) has started selling foreign exchange (FX) to Bureau De Change (BDC) operators at N1,251/$1, aiming to stabilise the naira and meet retail market demand. Each BDC is directed to sell the dollars to eligible customers at a rate not exceeding 1.5% above the purchase price. The move demonstrates the CBN's commitment to shoring up the naira and supporting retail market demand.
March 25, 2024
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