Sunday, June 1, 2025
  • Share your story
  • About
  • Contact
Economy FootPrint
  • Home
  • News & Politics
  • Opinion
  • Finance & Economy
  • Aviation
  • Editorial
  • Transport & Blue Economy
  • Features | Analysis
  • Health | Environment
Economy FootPrint
Home Finance | Insurance | Pension

Naira to trade at N1,269/$1 as CBN resumes sale of forex to BDCs

EconomyFoot Print by EconomyFoot Print
March 25, 2024
in Finance | Insurance | Pension, Top News
Reading Time: 1 min read
0
We Will Take Price Stability Seriously; FX Market Will be Fit for Purpose – CBN Governor
Share on FacebookShare on Twitter

Chris Agabi

The Central Bank of Nigeria (CBN) has resume sales of FX to Bureau De Change operators in Nigeria but with a caveat they wouldn’t have more than 1.5 percent markup.
The CBN issued a circular to Bureau de Change operators, indicating that they have provided each BDC with $10,000 at an exchange rate of N1,251 per US dollar.
The CBN however told the BDCs to offer dollars to qualified customers at a rate that does not surpass 1.5% above the buying price.
This indicates that Bureau de Change are advised not to sell above N1,269 for each $1.
“We refer to our letter to you referenced TED/DIR/CON/GOM/001/071 in respect of the above subject wherein the CB approved a second tranche of sale of FX to eligible BDCs “We write to inform you of the sale of $10,000 to each BDC at the rate of N1,251/$1. The BDCs are to sell to eligible end users at a spread of NOT MORE THAN 1.5 per cent above the purchase price” the CBN circular seats signed by Dr. Hassan Mahmud, the Director Trade and Exchange Department read.

Related posts

Qatar Airways Dedicates Special UEFA Champions League Livery to Bring PSG Home

Qatar Airways Dedicates Special UEFA Champions League Livery to Bring PSG Home

June 1, 2025
OPFY: Our Non-Kinetic Operations Secured Release Of Over 100 Kidnapped Victims – General Opurum

OPFY: Our Non-Kinetic Operations Secured Release Of Over 100 Kidnapped Victims – General Opurum

May 31, 2025

Previous Post

MPC: Why the CBN May Hold Interest Rate Constant

Next Post

Just in… CBN Raises Interest Rates to 24.75 Percent

Next Post
As the naira continues to slide at the parallel market, what options for CBN?

Just in... CBN Raises Interest Rates to 24.75 Percent

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

NiMet Beats Other Agencies, Emerged Service Provider of the Year Award

2 years ago

Shelve Planned Protest And Embrace Dialogue, Tinubu’s Policies Yielding Results – Badaru

10 months ago

Fulani Herdsmen Should Leave Ubulu-Uku Farms, Our People Are Dying – Chief

2 months ago

‘N359bn Benue Debt Claim By Gov Alia False’

2 years ago

FOLLOW US

  • 86.2k Followers

BROWSE BY CATEGORIES

  • Aviation
  • Brands
  • Crime
  • Editorial
  • Features | Analysis
  • Finance | Insurance | Pension
  • Health | Environment
  • Industry | Trade | Commerce
  • International
  • Interview | Profile
  • News
  • Opinion
  • Politics
  • Small Business
  • Sports
  • Top News
  • Transport & Blue Economy
  • Uncategorized

BROWSE BY TOPICS

2023 Benue Budget Abuja-Kaduna Rail Access Corporation Access pension airports concession Aviation Ayu Benue Budget Benue Community Buhari Business CBN Central Bank Dana Air Economy FGPL Herdsmen Herdsmen attacks insecurity insurance Maritime Min of Transport MSMEs NAICOM NCAA Nigeria Nigeria -Cameroon Border Post Nigeria Air NRac Onne Port ooh Orrom Ortom PDP PenCom pension Railway Sambo Jaji Transcorp Transcorp Group Transcorp Hotels Plc UBA Ukohol Wike Wildon Ideva

BROWSE BY CATEGORIES

  • Aviation
  • Brands
  • Crime
  • Editorial
  • Features | Analysis
  • Finance | Insurance | Pension
  • Health | Environment
  • Industry | Trade | Commerce
  • International
  • Interview | Profile
  • News
  • Opinion
  • Politics
  • Small Business
  • Sports
  • Top News
  • Transport & Blue Economy
  • Uncategorized

Economy Footprint

The EconomyFootprint is published by Ideas Tent Communications Ltd®. All Rights Reserved.

Follow us on social media:

Recent News

  • Qatar Airways Dedicates Special UEFA Champions League Livery to Bring PSG Home
  • Operation Whirlwind Strikes Smugglers, Auctions Seized PMS at Subsidised Rate
  • How Support From Military High Command Help Troops To Tackle Lakurawa, bandits – Col Umar

Category

  • Aviation
  • Brands
  • Crime
  • Editorial
  • Features | Analysis
  • Finance | Insurance | Pension
  • Health | Environment
  • Industry | Trade | Commerce
  • International
  • Interview | Profile
  • News
  • Opinion
  • Politics
  • Small Business
  • Sports
  • Top News
  • Transport & Blue Economy
  • Uncategorized

Recent News

Qatar Airways Dedicates Special UEFA Champions League Livery to Bring PSG Home

Qatar Airways Dedicates Special UEFA Champions League Livery to Bring PSG Home

June 1, 2025
Operation Whirlwind Strikes Smugglers, Auctions Seized PMS at Subsidised Rate

Operation Whirlwind Strikes Smugglers, Auctions Seized PMS at Subsidised Rate

June 1, 2025
No Result
View All Result
  • Home
  • Politics
  • News
  • Sports
  • Opinion