Nigeria's independent online newspaper
The Association of Bureaux De Change Operators of Nigeria has urged the Central Bank of Nigeria to reduce its applicable buying exchange rate downward due to naira’s speedy recovery.
On March 25, CBN had announced the second tranche of sales of foreign exchange to BDC operators at theABCON said this is the first time CBN’s applicable buying exchange rate for the CBN will be higher than the open market rate. “It is in view of the above market developments that we write to appeal to your good selves for a readjustments and review downwards of our funding rate of the last tranche from N1,251/$ further down to reflect current market rate discovery,” ABCON said.
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