CBN to Resume Forex Sales for BDCs August 31, Exchange Rate N386/$1

The Central Bank of Nigeria (CBN) has announced the plan to resume weekly forex sales for Bereau de Change operators (BDCs) by August 31, 2020 as the Bank pegs exchange rate to 386 naira per one dollar (N386/$1).

This was confirmed in a circular signed by the director of trade and exchange department of CBN, Mr. O. S. Nnaji.

According to the statement, the naira exchange rate is now officially 386 units per 1 dollar.

It also revealed that the apex bank will on Monday, resume the weekly forex sales to Bereau de Change operators nationwide.

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The highest bank authority in Nigeria revealed that its decision to resume FX sales to BDCs is to enhance accessibility to forex “particularly to travellers” since the resumption date for international.

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