Assessing New Regulatory Intervention In Forex Management …C0NTINUE READING HERE >>>
In managing the unrelenting liquidity pressures at the foreign exchange market, the Central Bank of Nigeria (CBN) resuscitated the Retail Dutch Auction System (RDAS), making the first dollar sales of $876.3 million at a rate of N1,495 per $1 to 26 qualified banks.
According to the CBN, the reintroduction of the RDAS is meant to alleviate the persistent demand pressure in the FX market and to enhance the process of price discovery and analysts believe the move will curb the volatility at…
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