Nigeria: CBN Orders Major Forex Market Overhaul As Naira Depreciates Further

21 February 2017

The Central Bank of Nigeria, CBN, has rolled out a new foreign exchange window to stem the tide of demand pressures which had battered the Naira in the unofficial foreign exchange market.

But the new measures, which increased supply of foreign exchange resources to the market, came on stream, yesterday, just as the fortunes of Naira nose-dived further in the parallel market, closing N520/ USD1.

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