All eyes will be on the Central Bank of Nigeria this Wednesday as it gets set to release its new foreign exchange guidelines.
The apex bank announced on its twitter handle Tuesday night that it will unveil the much expected forex guidelines today.
“CBN set to release new Guidelines on flexibility in Foreign Exchange Market structure Wednesday, June 15, 2016,” the apex bank said.
It will be recalled that at the end of its Monetary Policy Committee meeting last month, the bank had announced plans to introduce greater flexibility in the management of the foreign exchange market as part o reforms designed to “engender greater flexibility of rate and transparency in the operation of the interbank foreign exchange market.”
The measure, CBN Governor, Godwin Emefile said was a response to the sustained pressure on on naira in the foreign exchange market.
Though there was positive reaction to the announcement, operators in the economy have been anxious over CBN’s delay in announcing the plans.
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