Greater than a month after Nigeria’s central financial institution deserted the naira’s peg to the greenback, the exchange-traded futures market is at a standstill, with sharp swings within the native foreign money deterring merchants.
The naira has been buying and selling between 742 and 804 per greenback since June 15, the day after the Central Financial institution of Nigeria introduced that it will permit the foreign money to commerce freely within the so-called buyers and exporters window, the day by day fixing on the FMDQ Inventory Trade being acknowledged. because the official alternate price.
