Nigeria: CBN Closes Retail, Wholesale Forex Auction Windows to Save Naira

19 February 2015

The Central Bank of Nigeria on Wednesday announced the immediate closure of the twin foreign exchange auction windows, in a daring move to stem the tide of increasing pressures on the national currency, the Naira.

The retail/wholesale Dutch Auction Systems, rDAS and wDAS are official trading windows for the sale of foreign exchange to end users.

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