BDCs in great mood as CBN resumes forex sales to them Sept 7
Aderemi Ojekunle is a Businessamlive Reporter.
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August 28, 20201.3K views0 comments
The apex bank, in a circular titled ‘Resumption of sales to Bureau De Change operators’, issued by the director, trade and exchange department, CBN, said this is to enhance accessibility to forex by travellers following the imminent resumption of international flights.
The CBN said purchase of foreign exchange by BDCs will be Mondays and Wednesdays in the first instance , adding that the BDCs are to ensure their accounts with the banks are duly funded with the equivalent naira proceeds on Fridays and Tuesdays accordingly.
It added that authorised dealers (deposit money banks) shall continue to sell foreign currencies for travel-related invisible transactions to customers and non-customers over the counter upon presentation of relevant travel documents (passports, air tickets and visas).