Cbn forex restriction

The naira rose to against the United States dollar at the parallel market on Sunday, one week after the Central Bank of Nigeria introduced a new policy measure aimed at boosting foreign exchange supply in the market.

The Managing Director, Financial Derivatives Company Limited, Mr. Bismarck Rewane, commended the CBN for the policy reform and wondered why the regulator had delayed such measure for months.

CBN Reverses FOREX Ban on 41 Items for Small Imports - BellaNaija

Can you imagine what would have happened if the spot market was adequately funded in a transparent manner for nine months ago, rather than the opaque forward transactions.

This move by the CBN is a good one in the right direction provided the dollar supply is sustained.

BREAKING: CBN reverses restriction on 41 items ineligible for forex (SEE full list) ▷ laqenyberegi.web.fc2.com

There will be a rapid convergence of rates and a gradual end to multiple exchange cbn forex restriction and forex abuse. The Managing Director of Cowry Asset Management Limited, Mr. Johnson Chukwu, analyzer binary options online broker believe the naira will rise further this week.

Chukwu, Ezun and other experts advised the CBN to re-admit the banned 41 items into its official forex window.

According to them, there is the need to discourage end-users from going to the parallel market to source for forex. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.

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In case you missed it. Published February 27, February 27, Oyetunji Abioye The naira rose to against the United States dollar at the parallel market on Sunday, one week after the Central Bank of Nigeria introduced a new policy measure aimed at boosting foreign exchange supply in the market. Download the Punch e-Paper here.