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Saturday, 8 October 2016

Nigerian FX Market: Travelex begins sale of $15,000 to BDCs

Travelex  begins sale of $15,000 to BDCs today.

The dollar inflow, being disbursed by travelex, is part of the country's diaspora remittances estimated at $21BN annually.

The development, which was an improvement over the initially approved $10,000 weekly, would deepen dollar liquidity in the system and strengthen the naira against the dollar.

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