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Headline : CBN sells dollars to BDCs

Read more from the original article on here at www.premiumtimesng.com.




Tags : #cbn #sells #dollars #bdcs


No. of Paragraph 30

The Central Bank of Nigeria on Tuesday disclosed that it sold $10,000 to each Bureau De Change operator at a rate of N1,021 per US dollar.

This is the second time this month that the apex bank sold US dollars to the BDCs. The bank, on 8 April, sold $10,000 to each BDC operator at a rate of N1,101 per US dollar.

The apex bank disclosed the sale in a circular addressed to the President of the Association of Bureau De Change operators of Nigeria.

In the circular, signed by the CBN’s Director of the Trade and Exchange Department, Hassan Mahmud, the bank also instructed each BDC to sell the dollars to eligible customers at a rate not exceeding 1.5 per cent above the purchase price.

Read more from the original article on here at www.premiumtimesng.com.


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