CBN HAS DIRECTED BANKS TO TRADE FOREX AT ANY RATE
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It seems that the Central Bank of Nigeria has given banks the go- ahead to trade Foreign Exchange at any rate set by the market.
This means that banks can freely influence and determine the value of Naira to Dollar in the market. This also means that there would be a single exchange rate.
However, as at today, Naira at the official market is 755 to a dollar, meaning it falls against the dollar.
