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BUREAU DE CHANGE (BDC)
Nigeria's foreign exchange reserves now stand at $36.57 billion, having increased sharply from $33.42 billion as of April 29, 2020.
Naira has depreciated against the US dollar, as it dropped from N455/$1 to N460/$1 on Thursday afternoon.
As Nairametrics previously reported, the apex bank informed Nigerians that it will resume the provision of Forex to all commercial banks in Nigeria for onward sales to SMEs and Nigerian students in foreign schools.
Nigeria may need more than $3.4 billion from the IMF and bond buyers making it inevitable that the currency will be floated
The Central Bank of Nigeria (CBN) injected the sum of US$11.81 billion in the first quarter (Q1) of 2019. This was revealed in the CBN Quarterly Economic Report.
Travelex, CBN, EFCC seek international best practises of Nigeria's BDC.