Minister of Finance and Coordinating Minister of the Economy, Mr. to ease liquidity pressure in the foreign exchange market.The Minister added that the government has a clear view of the inflows into the country in weeks rather than months.
“Mr. President announced that he had taken measures to ease illiquidity in the forex market which we know is very problematic at this time,” Edun said. Dropping this hint in a panel session of the on-going 29th edition of the Nigerian Economic Summit in Abuja, CBN Governor, Yemi Cardoso, said the present travails of the Nigeria’s foreign exchange market connected to the entire fiscal and macroeconomic space, adding that any discussion on exchange rate in isolation would be shortchanging the narratives.
“In addition to that, the attempt at unification of the foreign exchange market, fine, not by any means perfect, but at least substantial more revenues have come in. So the combination of those two things, in addition to some of the other efforts that have been done on the fiscal side, are commendable, and in due course, we will see the outcome.
“And that’s where we really want to get to is a place where we have a foreign exchange market that is fit for purpose; A foreign exchange market that works for everybody; A foreign exchange market where you know the rules; A foreign exchange market where there are no policy flip-flops; A foreign exchange market where you can predict.
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