CBN conducts dollar sales to BDCs at N1,021/$1 to boost foreign exchange market and stabilize naira.
The Central Bank of Nigeria (CBN) has conducted another round of dollar sales to licensed Bureau De Change (BDC) operators at a rate of N1,021/$1. In a statement, the CBN said it was ready to sell $10,000 to licensed BDC operators and directed them to sell the allocated dollars to eligible customers at a rate not exceeding 1.5% above the purchase price. This intervention aims to boost the foreign exchange market and stabilize the naira against the dollar.
April 23, 2024
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