Foreign currency purchases in Nigeria will be on the interbank market from Monday June 20, Central Bank Governor Godwin Emefiele announced Wednesday.
He said this will kick off the era of automatic adjustment mechanism of the Naira-dollar rate with the operation of a flexible interbank market which shall also have primary dealers.
“There is one window and that is what is will be,: Emefiele said while clarifying that there shall be only one rate for the dollar going forward.
The governor said all the 41 items earlier banned from access to foreign exchange .
According the governor non oil exporters will now be allowed to sell their export proceeds on the interbank market at the ruling rate.
He promised that the market will be transparent, liquid and warned speculators to stay away from the market.
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