CBN approves forex sales to BDCs at N1,590/$

The Central Bank of Nigeria has announced its decision to sell foreign exchange worth $20,000 to eligible Bureau De Change operator across the country.

This was disclosed by the apex bank in a statement signed by the Acting Director of Trade and Exchange Department, J. Kanya, on Wednesday.

Kanya noted that the sales will help operators meet retail market demand for eligible invisible transactions.

The latest intervention of the central bank comes hours after the Nigerian naira dropped in value against the dollar to N1,658.48 in the Nigerian Autonomous Foreign Exchange on Tuesday.