CBN sells dollars to BDCs at N1,251/$1
Nigeria, March 26 -- The Central Bank of Nigeria on Monday disclosed that it sold $10,000 to each Bureau De Change operators at a rate of N1,251 per U.S. dollar.
The bank disclosed this in a circular addressed to the President of the Association of Bureau De Change operators of Nigeria.
In the circular, signed by Hassan Mahmud, the Director of the Trade & Exchange Department, the CBN also instructed each BDCs to sell the dollars to eligible customers at a rate not exceeding 1.5 per cent above the purchase price.
"We refer to our letter to you referenced TED/DIR/CON/GOM/001/071 in respect of the above subject wherein the CB approved a second tranche of sale of FX to eligible BDCs.
"We write to inform you of the sale of $10,000 to each ...
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