RADP / Pulse Ghana > news > business

Nigeria's launches market-driven interbank trading system: cenbank governor

June 15, 2016 10:15 PM

The window's exchange rate will be purely market-driven, Godwin Emefiele told reporters. The new system would help with economic growth and restore investor confidence.

___5155055___https:______static.pulse.com.gh___webservice___escenic___binary___5155055___2016___6___16___0___nigeria-interbank

Nigerias central bank will launch a foreign exchange interbank trading window on Monday to boost the supply of hard currency in Africas biggest economy, its governor said on Wednesday.

Precise guidelines will be published later on Wednesday, he said, adding that the new window would have eight to ten primary traders handling minimum volumes of $10 million.

Nigeria has been suffering from foreign exchange shortages due to a slump in oil revenues which have crippled public finances and hit currency reserves.

Credit: Reuters

Enhance Your Pulse News Experience!

Get rewards worth up to $20 when selected to participate in our exclusive focus group. Your input will help us to make informed decisions that align with your needs and preferences.

I've got feedback!