CBN Sells Dollars To BDCs Below Market Rate At ₦‎1,101/$1

TheCentral Bank of Nigeria (CBN) has issued a circular to Bureau De Change
operators (BDCs), informing them of the sale of $10,000 to each BDC at a
rate of N1,101/$1.In a circular seen by Nairametrics, each
BDC is instructed to sell the dollars to eligible customers at a rate
not exceeding 1.5% above the purchase price.This suggests
BDCs are not expected to sell above N1,117/$1. The selling rate is below
the N1,251.05/$1 recorded at the end of last week, according to data from the Nigerian Autonomous Foreign Exchange Market (NAFEM).