The Central Bank of Nigeria introduced new foreign exchange rate for operators of the Bureau De Change across the country.
President, Association of Bureau De Change Operators of Nigeria, Alhaji Aminu Gwadabe, explained that the buying rate for BDCs would now be N350 and would sell at N360 to a dollar.
Before now, BDCs were buying dollars from the CBN at a forward rate of N381 to the dollar and selling at N399 to the dollar.
Gwadabe praised the apex bank for listening to the call of ABCON members as they pleaded for a level playing field for all players in the forex market.
The ABCON chief pledged the commitment of all BDCs in collaborating with the apex bank to sustain the gains recorded by Naira against the dollar.
The CBN, had on Monday, pegged the selling rate for Deposit Money Banks at N360 to the dollar.
The CBN had injected close to two billion dollars since it started its intervention in the foreign exchange market five weeks ago.
Efforts of the apex bank have crashed dollar rates at the parallel market to between N375 in Lagos and N365 in Abuja.
The CBN said it determined to crush speculators in the market and ensure that genuine foreign exchange seekers have access to foreign currencies with ease
