There are indications that the Central Bank of Nigeria has directed banks to trade foreign exchange at any exchange rate in the Investors & Exporters window based on willing buyer, willing seller arrangements.
In response, the I&E window exchange rate rose sharply to N610 per dollar as at N12:50pm from N471.67 on Tuesday night.
Though the CBN is yet to issue a statement to this effect, two banking executives however confirmed to Vanguard that it is true that the CBN has given the directive to the banks.
Vanguards News.
Follow The Eagle Online Channel on WhatsApp
