The Central Bank has said it will resume the sale of foreign exchange to the Bureau De Change on Sept. 7.
The announcement was made through a circular entitled ‘Resumption of sales to Bureau De Change operators’, and signed by the CBN Director, Trade and Exchange Department on Thursday.
“The BDCs have always remained the potent monetary tool of the CBN exchange rate stability instrument.
“The resumption of sales to BDCs will in no doubt inject a robust liquidity to the critical retail end sector of the market and usher in stability, discourage, hoarding and speculation,” he said.
He also said that the association had embraced innovation, awareness and capacity building measures to guide members and ensure their total compliance to extant foreign exchange regulations
He said that the announcement on resumption of dollar sales to the association had caused the naira to gain over N5 to a dollar at the close of today’s buisiness as it closes to N470 to a dollar from all high off M476 to a dollar in the morning.
Gwadabe added that the association expected a strong positivity in the market wth the take off of the policy.
Edited By: Wale Ojetimi (NAN)
Short Link: https://wp.me/pcj2iU-3tbi
- Bird flu: Hong Kong suspends import of poultry products from Poland
- General Abdulsalami Dismisses News Linking Him To Purported Arrested Helicopter
- Education board trains 600 Ekiti teachers
- FRSC solicits motorists’ support to minimise crashes
- Rugby Africa Women’s Sevens Solidarity Camp Tunis – Final report of the two-day tournament
- Neymar extends PSG deal until 2025
- Ogun Govt., Private Firms Empower 100 Youths
- Coronavirus – Nigeria: COVID-19 case update (May 8, 2021)
- Okowa mourns ex-minister Aisha Alhassan