IMF praises Nigeria’s FX reforms
Fund’s article IV review also calls on central bank to introduce disinflation path
The International Monetary Fund has praised the Central Bank of Nigeria’s (CBN) latest efforts to improve the country’s foreign exchange markets.
In its latest Article IV consultation review, published on July 2, the IMF says the bank’s electronic FX matching platform has improved both the transparency and the credibility of the country’s FX market. It launched the platform – which matches buy and sell orders automatically – last year as part of efforts to improve its “operational” exchange rate
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