CBN Sells $20,000 To Each BDC At N1,590/$ To Meet Retail Demand

CBN Sells $20,000 To Each BDC At N1,590/$ To Meet Retail Demand …C0NTINUE READING HERE >>>

The Central Bank of Nigeria (CBN) has announced the provision of additional liquidity to the Bureau De Change (BDC) segment of the foreign exchange market to meet the high demand for forex in the local market.

In a circular that signed by the apex bank’s director in charge of trade & exchange department, J. Kanya, the CBN said $20,000 would be provided to each BDC operated at a ‘discounted’ rate.

“To this end, the CBN has approved the sale of $20,000 to each eligible BDC at the…

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