According to the Central Bank of Nigeria, its new Forex policy will help the naira gain grounds against major international currencies in the foreign exchange market.
The apex bank also directed Money Deposit Banks, MDB, to forthwith process and meet the demand for dollars and other foreign currencies within 48 hours.
In a circular made available to journalists in Abuja yesterday, the Director of Financial Markets Department, Dr Alvan Ikoku, said the order would further make foreign currencies readily available to end users.
However, the currency remains 305 to the dollar at the official market.
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