Forex: CBN throws Naira into
open market, nullifies N197/$ exchange rate
Vanguard ON MAY 25, 2016
The Central Bank of Nigeria, CBN, yesterday, announced a
flexible exchange rate regime aimed at making foreign currencies more
accessible. With this action, the CBN has nullified the official exchange rate
regime of N197/dollar……
Briefing the media after the MPC meeting,
Emefiele explained that “the MPC voted unanimously to adopt a flexible exchange
rate policy to restore the automatic adjustment properties of the exchange
rate,” adding that it voted also to “retain a small window for funding critical
transactions” and that “details of operations of the market would be released
by the Central Bank at the appropriate time.”
Read more at: http://www.vanguardngr.com/2016/05/forex-cbn-throws-naira-into-open-market/
Read more at: http://www.vanguardngr.com/2016/05/forex-cbn-throws-naira-into-open-market/
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