Achievements Recorded Since The Introduction of WDAS Included :
Parallel market appreciation first time in 20 years. Convergence of official and inter-bank rates, thus unifying the two.Revision of the Foreign Exchange Manual Sale of Foreign Exchange to Bureaux-de-Change operators in an effort to increase access of foreign exchange to small end-users, bridge the supply gap and develop the local Bureaux-de-Change (BDCs) The Process of Selling Foreign Exchange to Bureaux-de-Change Operators:
The liberalization opened the market for the operations of private BDCs and Authorised Dealer BDCs. The operations of these BDCs with CBN window is basically cash operation.
The following explains the process:
Read more about this topic: Central Bank Of Nigeria
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