Central Bank of Nigeria - Further Liberalization & Development of The Foreign Exchange Market

Further Liberalization & Development of The Foreign Exchange Market

Since the introduction of Whole Sale Dutch Auction System (WDAS) on February 20, 2006, the liberalized Foreign Exchange Market witnessed unprecedented stability most of which include the following:

Unification of exchange rates between the Official and Inter-bank Markets and resolution of the multiple currency problems.

Facilitation of greater market determination of exchange rates for the Naira vis-à-vis other currencies

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