The Central Bank of Nigeria (CBN) has barred banks on transferring any foreign exchange forwards bought its forex market to the inter-bank market. The apex bank gave this order in its new guidelines for the operation of Wholesale Dutch Auction System forwards (WDAS-FWD) issued last week.
Nigeria: CBN Bars Forex Forward Transfer to Inter-Bank Market
Leadership (Abuja), 28 March 2011
The Central Bank of Nigeria (CBN) has barred banks on transferring any foreign exchange forwards bought its forex market to the inter-bank market. The apex bank gave this order in its new guidelines for the operation of Wholesale Dutch Auction System forwards (WDAS-FWD) issued last week.
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