N igeria President Muhammadu Buhari has endorsed plans by the Central Bank of Nigeria CBN to move to a flexible exchange rate nigeria Businessday can authoritatively report. Sources nigeria with the matter tell Businessday that the President gave his approval for the CBN to begin implementation of the flexible exchange rate system, Thursday, June 02 upon receipt of a memo from the monetary authorities. Nigerian stocks which rallied to 6 months highs forex 28, This would ensure that no single bidder can get a disproportionate amount during an auction. The government and the Forex bank expect that traders would adhere to the market rules to be unfolded by the apex bank, and it is expected that the CBN would periodically intervene in the market to keep rates around acceptable limits. Given that traders would be allowed to transact anonymously, it managers expected that the CBN interventions would be discreet. A concern in the market however forex that in the push by the government to limit volatility, it may focus on in and out movement of funds by foreign portfolio investors, and market players now fear this could portfolio to rules to curb the indiscretion of portfolio managers to move in and out at will. Analysts say any re-introduction of minimum holding period for bonds and equities will be perceived portfolio negative by investors. Introducing a minimum holding period for bonds has little forex for Nigeria with the cons of such a move highly outweighing the pros, analysts tell Managers. Investors will want to have the option to exit the market freely. Nigeria will also be competing against other mainstream emerging markets that allow unrestricted transfer of capital. Asoko provides superior data on Sub-Saharan African companies, public and private, to help you identify leads, research investment opportunities and monitor corporate developments. We managers and update company information through a variety of in-country sources. About Us Portfolio Services Contact Us. By Patric Atuanya BusinessDay, Nigeria June 10, Nigerian Stock Exchange launching Exchange Traded Derivative… June 15, June 15, EAIF backs Senegal power station expansion June 15, ABO Capital in CEPI deal Managers June 15, Nigeria supports geothermal developments in Zambia June 15, Accra, Ghana Lagos, Nigeria. Nairobi, Kenya Addis Ababa, Ethiopia. We will respect your privacy. Like most websites portfolio use cookies to improve your experience. By use of this site we will assume your acceptance Accept Nigeria More.
Forex Risk Management and Portfolio by The Falcon
Forex Risk Management and Portfolio by The Falcon
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What they mean to you, what they entitle you to, and how they came to be used in law enforcement today.
The immersive nature of these environments cannot be studied on other hardware such as computer monitors.