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Exchange Rate in Nigeria
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Customize Settings Accept. Share on social media. Samuel Town 7 months ago 2 mins read.
Author Samuel Town. Weekly Finance Digest.
UPDATE 2-Nigerian central bank leaves benchmark rate unchanged, denies new FX policy
Please leave this field empty. Please review our cookie policy and our data protection privacy notice for more information on how the data that is collected is used. Update on foreign exchange regulations in Nigeria. Some of the highlights of the policy and guidelines include: The FX market shall operate as a single market structure via the interbank market and through authorised dealers - ie, banks licensed by the CBN to deal in FX. Participants in the inter-bank FX market shall include authorised dealers, authorised buyers, oil companies, oil service companies, exporters, end-users and any other entity that the CBN may designate from time to time.
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The CBN will participate in the interbank FX market through periodic interventions to either buy or sell FX spot upon the receipt of valid two-way quotes on the standard amount. FX primary dealers will deal with other authorised dealers and other players in the interbank market.
There shall be no pre-determined spreads on FX transactions and all FX purchases are transferable. Turnover rose by 9.
Exchange Rates UK
The naira depreciated by N4. Download Vanguard News App. Friday 02 April. Follow vanguardngrnews. Breaking News. Kindly Share This Story:.