Parallel Market Rate

Naira strengthens against dollar ahead of CBN FX sales to BDCs - Parallel Market Rate
Aug 29, 2020: $1 to N471
Aug 30, 2020: $1 to N465
Aug 31, 2020: $1 to N450
Sept 1, 2020: $1 to N430
Sept 2, 2020: $1 to N420
The Naira has gained N51 in 5 days.
The naira has strengthened at the parallel market to N420 against the dollar after the Central Bank of Nigeria (CBN) announced that it would resume dollar sales to bureau de change operators.
Before the announcement, the naira had been trading as low as N480 against the dollar.
Upon resumption, the apex bank said BDCs must not exchange the naira at more than N386/$ to end-users.
The CBN said its decision to resume FX sales to BDCs is to enhance accessibility to forex “particularly to travellers” since the resumption date for international flights has been announced.
The CBN also said deposit money banks shall continue to sell forex for travel-related invisible transactions to customers and non-customers over the counter upon presentation of relevant travel documents, passport, air ticket and visa.
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Jamie Buck - YouTube CBN Governor's Briefing On New Monetary Policy ABS-CBN News - YouTube CBN introduces special intervention of forex cash sales to BDC operators

More than 700 Bureaux De Change (BDC) operators are inactive in the Central Bank of Nigeria’s (CBN’s) Forex Window as forex end users embrace commercial banks, The Nation has learnt. The ... CBN To Resume Sales Of Forex To Bureau De Change (BDC) August 31. By Lucy Adegbe Aug 27, 2020. Share; Tweet; 0. Post Views: Visits 501. The Central Bank of Nigeria (CBN) has announced that the ... CBN resumes forex sales to commercial banks . On April 30, 2020 10:47 am In Business by Urowayino Jeremiah. Kindly Share This Story: To sell $100m per week By Elizabeth Adegbesan, with agency ... CBN, in the circular on forex sales to the BDCs, stated: “The Central Bank of Nigeria hereby wishes to inform the general public that gradual sales of foreign exchange to licensed BDC operators will commence with effect from August 31, 2020. “Consequently, purchase of forex by BDCs shall be on Monday, and Wednesdays in the first instance.” According to the apex bank, BDCs are expected to ... CBN to BDCs — N384/$1; BDCs to end-users – Not more than N386/$1; Volume of sale for each market is $10,000 per BDC; The resumption of sales to BDCs is coming ahead of the reopening of the country’s airports to international flight operations and after almost 3 weeks of the adjustment of the official exchange rate by the CBN. cbn forex sales to end users for the period 19th to 28th january, 2009 (us$ 100,000 and above) s/n form m/a no. name of bank name of company company r/c no amount (us$) purpose 1 mf151434 zenith fineshade energy ltd 639679 38,234,395.80 37,000mt of unleaded nigerian grade gasoline 2 mf341049 zenith african petroleum plc . 4119 35,811,343.89 33,000mt of premium motor spirit 3 mf0550151 access ... CBN: We Have Enough Forex For End Users, Bank Customers. 340. SHARES . Facebook Twitter Subscribe. The Bankers Committee of the Central Bank on Thursday declared that there was adequate stock of foreign exchange to sustain the spate of dollar sales to various segments of forex market. The apex bank said it has enough to meet demanded of all genuine bank customers in the country. The Director ... The CBN also directed the BDCs to sell to end users at not more than N362/$1. Okorafor had explained that the objective of the new foreign exchange sale policy was to ensure a convergence of the rates in the interbank and BDC, stressing that the CBN remained committed to ensuring transparency in the market as well as fairness to end-users, many of who hitherto experienced challenges in ... On the CBN’s approved list, 3,389 BDC operators have been licensed and are expected to get $40,000 weekly from the CBN Forex Window. The apex bank disburses about $135.5 million to the 3,389 registered BDCs weekly to sell to forex end users. The funds are for Personal Travel Allowances (PTA), Business Travel Allowances (BTA), medical needs ... table 11 forex sales to end users for the month of january 2005 totalb name of company amount cbn proceed 1 dangote industries ltd 41,929,929.96 26312150.29

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Jamie Buck - YouTube

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