BREAKING: CBN Resumes BDC Dollar Sale As Naira Weakens To 1,570/$

The Central Bank of Nigeria resumed the sale of foreign exchange to eligible Bureau De Change operators on Thursday, as the naira fell to 1,570/$ at the parallel marketThe CBN sold the dollar to BDCs at a rate of 1,450/$.This was disclosed in a statement signed by AA Mahdi for the acting director of the Trade and Exchange Department at the CBN.The apex bank said, “Following the ongoing reforms in the foreign exchange market, with the objective of achieving an appropriate market-determined exchange rate for the naira, the Central Bank of Nigeria” has observed the continued distortions in the retail end of the.....Read The Full Article>>.....Read The Full Article>>