CBN Raises Forex Supply by 20% as Dollar Gains on Naira

Following its sweeping intervention in the forex market over the past weeks, the CBN on Tuesday slashed the rate at which it sold forex to BDCs from N370 to N360 per dollar, ordering them to sell to the public at N362, while also ordering Deposit Money banks to sell at N360 to end users for invisibles such as fees and medicals.

The post CBN Raises Forex Supply by 20% as Dollar Gains on Naira appeared first on Olisa Blogazine.

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