CBN sells $25m to 3,124 BDC operators

Travelex with the approval of the CBN on Thursday sold a total of $25 million to 3,124 Bureau De Change (BDC) operators. The development also helped to improve the volume available to sell to retail customers.

The President of the Association of Bureau De Change of Nigeria (ABCON), Alhaji Aminu Gwadabe, said Travelex sold the dollars to his members at N381 per dollar.

Also, the CBN on Thursday said it had offered and received bids for $100 million from authorised dealers in the interbank market to meet the requests of genuine customers.

The CBN spokesman who disclosed this added that the sales would be settled on Friday.

He, however, disclosed that no intervention was made by the bank to meet requests for invisibles on Thursday.
Okorafor reiterated that the CBN would continue to make necessary interventions in the interbank market to meet all legitimate transaction-based foreign exchange demands by customers

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