CBN approves wider margin of forex for BDCs

PUBLISHED: Wed, 06 Jun 2018 14:13:56 GMT

Sign Up for Our Newsletter Daily Update

Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent.
Get this delivered to your inbox, and more info about about our products and services. By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.

Nigeria’s Central Bank on Tuesday reviewed the trading Margin available to Bureau de Change operators in the country. BDC’s can now buy the United States dollar from the CBN at the rate of 357 and sell at N360 to the dollar, thereby leaving them with a positive margin of N3.00 per dollar sold. Deinma Iyagba, FX Trader at UBA joins CNBC Africa for a fixed income and forex update.