CBN Sells Dollar at N1,580 to BDC Operators, Sets Resale Exchange Rate
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The Central Bank of Nigeria (CBN) has approved the sale of forex to Bureau de Change (BDC) operators at an exchange rate of N1,580 per US dollar as of September 6, 2024; Each BDC operator can purchase $20,000 in foreign exchange; The CBN aims to stabilize the naira following recent depreciation in both official and unofficial markets; All BDCs are permitted to sell FX to eligible end-users at a margin of no more than 1% above the purchase rate; The CBN hopes increased liquidity will help the naira recover; The naira has recently appreciated against the dollar in official markets after the CBN increased dollar supply.

#Cbn #Forex #Bdc #Naira #ExchangeRate #Dollar #Nigeria #Economy #Finance #Liquidity

https://www.legit.ng/business-economy/money/1612598-cbn-moves-crash-dollar-sells-bdcs-n1580/