Latest:Nigeria CBN to sell $20,000 to each BDC at N1,450/$1

The Central Bank of Nigeria (CBN) has announced the approval of   foreign  exchange  sales  to   authorized  Bureaux  De   Changes  (BDCs) to meet the demand for invisible transactions.
 
   In a circular signed by A. Mahdi,   acting  Director of Trade and   Exchange,  CBN, it was disclosed that the sum of $20,000   will  be sold to each BDC at the rate of   N1,450/$1.
 
   These sales come at a time when the naira   is  under  constant   pressure  and  is  approaching  the   ceiling  of  N1,600/$1.

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