Regulatory Alerts2025-02-03 | TED/FEM/PUB/FPC/001/003SALES OF FOREIGN EXCHANGE TO BDCs TO MEET RETAIL MARKET DEMAND FOR ELIGIBLE INVISIBLE TRANSACTIONS
The Trade and Exchange Department has extended the expiration date for BDCs to purchase FX from Authorized Dealers, with a weekly cap of USD 25,000.00, from January 31, 2025, to May 30, 2025. The CBN remains dedicated to a well-functioning foreign exchange market and will continue to provide liquidity to manage price volatility. All other terms and conditions from the previous circular remain unchanged.