• Sun. Nov 24th, 2024

Ijebuloaded

No 1 Nigerian Latest Entertainment Updates

CBN Unveils New Forex Guidelines, Confines Exchange Rate to Market Forces

ByFasasi

Jun 15, 2016
  • Appoints primary forex dealers, says ban on 41 items remains
  • Backlog of matured letters of credit to be cleared
  • Trading under new guideline to begin Monday

Godwin-Emefiele-696x505

James Emejo in Abuja

The imperative financial institution of Nigeria (CBN) on Wednesday unveiled the a good deal-predicted bendy forex framework, permitting the change charge of the naira to be decided via marketplace forces of demand and supply, although the apex bank would step in on every occasion appropriate.

READ MORE  : I control over N200bn but can’t build a house, CBN director laments

The discharge got here after weeks of consultations with stakeholders inclusive of the banks, on the want for a extra bendy foreign exchange market to, amongst different things, lessen strain at the neighborhood foreign money and incentivize overseas investors.

 

Details later

By Fasasi

Fasasi Abiodun (CEO IJEBULOADED) is a Nigerian news carrier blogger, writer, entrepreneur and a public relation officer. We bring you the Nigerian News, Music and All Informative Messages On This Medium. Connect With Me Via: IG/Twitter: @ijebuloadedng Call/Whatsapp: +2348050947397

Leave a Reply

Your email address will not be published. Required fields are marked *