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Saturday, June 22, 2024
Home Uncategorized FOREX TRADE:CBN UNVEILS FRESH GUIDELINES FOR FOREX SALE BY BDCS.

FOREX TRADE:CBN UNVEILS FRESH GUIDELINES FOR FOREX SALE BY BDCS.

The Central Bank of Nigeria (CBN) on has unveiled a series of fresh operational guidelines for forex sales by Bureau de Change (BDC) operators in the country.

This is coming more than two years after the suspended CBN governor, Godwin Emefiele, announced the suspension of foreign exchange sales to BDC operators in that segment of the forex market.

Under the new framework, the spread on buying and selling by BDC operators is set to fall within a permissible range of -2.5% to +2.5% of the Nigerian foreign exchange market window’s weighted average rate from the previous day.

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