Barring any last minute change in plan, the Bureau De Change operators may start selling dollars at about N1, 118/$.
This follows the Central Bank of Nigeria (CBN) announcement on Monday that it will once again sell dollars to bureau de change operators.
According to a circular seen on the apex bank’s website on Monday morning, the CBN said it is set to sell $10,000 to each BDCs at N1101/$.
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It however, directed the operators to sell at a spread not more than 1.5 per cent above the CBN rate.
Grassroots Parrot reports that the 1.5% of N1,101 is approximately N17, meaning the BDCs are not expected to sell the dollars above N1, 118/$