5 Major Decisions CBN Made Today That'll Affect Naira-dollar Exchange Rate - Business - Nairaland
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| 5 Major Decisions CBN Made Today That'll Affect Naira-dollar Exchange Rate by Batlan01: 4:34pm On Jun 15, 2016 |
The Central Bank of Nigeria, CBN, on Wednesday made a huge announcement about Nigeria's foreign exchange policy. Here are the major decisions CBN made that'll have an immediate impact on naira's exchange rate: 1. The value of the naira will be determined by market forces 2. Nigeria henceforth will be operating a single market. This means we will no longer have two windows (the black market will be gone) 3. 41 items banned last year for for access to forex for imports remained banned 4. 10 Primary dealers has been appointed to boost FX liquidity in the market 5. Non-oil exporters are now allowed unfettered access to export proceeds via the interbank market. |
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