Banks To Sell Dollar Between N270 - N300 Under New FX Regime

Central Bank of Nigeria 
If the predictions from one of the foremost commercial banks in the Country is to hold, then FX will be traded between N270 to N300 per dollar effective 20th June, 2016.

A reliable source from one of the banks whose name we won't want to have on print hinted our correspondent that the newly introduced  flexible foreign exchange policy by CBN this week will see the US dollar sold across the inter-banks at a price that is up to N300 starting from June 20 when the new regime will kick off.

It could be recalled the the Central Bank of Nigeria on Wednesday June 20 announced the introduction of a flexible FX regime slated to take off on 20th June 2016. The apex bank also stated that 10 primary dealers will be selected to pilot the policy. 
More on this soon...


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