Home Business CBN to hold special intervention for BDCs today
Business - April 6, 2017

CBN to hold special intervention for BDCs today

The Central Bank of Nigeria will hold a special intervention in the Bureau de Change (BDC) segment of the market today.

The aim according to CBN is part of efforts to sustain dollar liquidity in the foreign exchange (FX) market.

Isaac Okorafor, CBN spokesman, said in Abuja on Wednesday that the special intervention of $10,000 for BDCs was meant to meet the upsurge in forex requests of low-end customers, which has been on the rise in recent days.

According to him, the special intervention did not in any way contradict the CBN’s newly amended sale policy of selling not more than $10,000 only to BDCs once a week.

He further explained that the intervention arose due to the increasing demand for forex by Nigerians to address other legitimate needs.

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