Experts see naira acquiring as forex trading starts

The naira currency exchange rate to the United States dollar is anticipated to appreciate even more at the recently established interbank market as trading begins today (Monday).The Central Bank of Nigeria had last week introduced new standards for the nation’s foreign exchange market.The CBN on Wednesday stated the forex market would operate as a single structure through the interbank/autonomous window, while the exchange rate would be simply market-driven.

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Sri Lanka tightens forex trading curbs amidst IMF warnings

The International Monetary Fund has actually cautioned that forex trading curbs which were tightened gradually by Sri Lanka's central bank are counter-productive as the country attempts to move towards an inflation targeting framework.Sri Lanka's central bank typically keeps rates down as personal and state credit demand increase providing various reasons not to raise policy rates and after that print money to inject more rupee reserves into the banking system and enhance credit to unsustainable levels.

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Interbank Trading of Forex Expected to Begin in Nigeria

Tenors and rates for Over the Counter (OTC) settled forex feature is likewise expected to be revealed later in the day by the apex bank.The Central Bank of Nigeria (CBN) launched the highlights of the much awaited flexible forex market policy on Wednesday, weeks after the Monetary Policy Committee revealed the intro of the policy.After its meeting of May 24, the CBN stated the policy would enable the bank maintain a little portion of foreign exchange for critical deals.

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