BusinessDay
Nigeria's leading finance and market intelligence news report.

CBN’s $1bn sales to BDCs fail to shore up naira value now at N474.50k

… Nigeria needs to strengthen capital market to strengthen currency – analyst

Nigeria’s currency has continued to depreciate against the dollar after the Central Bank has intervened with about $1 billion sales to the Bureau De Change (BDC) operators for the past three months. The foreign exchange market has been under pressure since March 2020 following a sharp drop in oil prices as a result of Covid-19…

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