Naira traded bullish last week gaining 1.57 per cent to exchange at N380 from N386 per dollar it opened on Monday in the parallel market.
This development is coming as the CBN conducted its weekly Secondary Market Intervention Sales (SMIS) auction at the official foreign exchange market.
CBN...
The Central Bank of Nigeria, CBN, has explained why it was necessary for the apex bank to create several exchange rates in the forex market.
CBN spokesperson, Isaac Okarafor, told Reuters that the multiple exchange rates are the only way forex liquidity could be maintained while simultaneously...
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