CBN Says Multiple FX Rates Eliminated ‘Frivolous’ Demand

Nigeria's central bank has eliminated "frivolous demand" for foreign currency with a series of measures introduced recently, its spokesman said on Thursday, according to Reuters report.

Isaac Okorafor said the bank had introduced multiple exchange rates to improve liquidity and allow investors to trade their own dollars at a more market-determined rate.

myfinancialintelligence.com