Desirous of alleviating the pains of retail foreign exchange (forex) consumers, the Central Bank of Nigeria (CBN) on Monday directed all banks to immediately begin the sale of forex for BTA, PTA, tuition and medical fees to customers at not more than N360 per dollar, from the N380 to the dollar it was sold previously.

The CBN in a note, explained that it will sell to banks at N357 per dollar, adding that banks are expected to post the new rates in the banking halls of their branches immediately.

….details to follow later.

Source: ThisDay