Understanding the indirect effects of exchange rates
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CBN slashes BDC exchange rate to N1, 036.3/$
The Central Bank of Nigeria, CBN, yesterday for the second time in two months, slashed the exchange rate in the Bureaux De Change, BDC, segment of the forex market by 7.2 per cent or N81.2 to N1,036.3 per dollar even as it commenced another round of dollar sale to 1,583 eligible BDCs.
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Volatile exchange rate for Customs duty hurting economy — Muda Yusuf
The Centre for the Promotion of Private Enterprise (CPPE) has appealed to the Central Bank of Nigeria (CBN) to adopt a quarterly customs duty exchange rate to check high volatility in cargo clearing costs occasioned by the recent frequent changes in the rate.