Nigeria moves closer to efficient FX market but multiple rates linger

by | August 7, 2017 12:33 pm

Nigeria hopes to move a step closer to an efficient foreign exchange (FX) market, with banks now publishing the investor-favoured NAFEX rate on their screens, but may still cling on to a multiple exchange rate system. The change, initiated by market operator FMDQ Securities Exchange to improve liquidity, comes as banks already trade with one…

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