CBN Announces Applicable Exchange Rate for the Disbursement of Proceeds of IMTOs Wef August 31, 2020

August 27, 2020/CBN

Please be advised that the applicable exchange rate for the disbursement of proceeds of IMTOs for the period Monday August 31 to Friday  September 04, 2020 is as follows:

1. IMTSOs to Bank             N382/1USD
2. Banks to CBN                 N383/1 USD

• CBN to BDCs                  N384/1 USD

1. BDCs to end-users         Not more than N386/1USD
2. Volume of sales for each market is USD10,000.00 per BDC

Kindly note that the GDBP rate should be derived from the USD cross rate on the date of sale.