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A shrinking economy A gold binary options systems free devaluation of the official naira rate would also have an impact on the calculation of Nigeria's GDP, diminishing its standing in global economic rankings. The regulator said late Thursday that its decision announced earlier in the day to increase dollar supply to small importers did not include 41 items, ranging from toothpicks to plastics, previously banned from accessing foreign exchange from the inter-bank market. The CBN raised N Related News. Emefiele recalled that the MPC had hinted in July about the possibility of the economy falling into recession if appropriate complementary measures were not taken by the monetary and fiscal authorities, saying the budget impasse had constrained the fiscal stimulus to the economy. Financial market expert Emmanuel Ukeje said the new policy is very sustainable, explaining that it will address the issue of round-tripping or hoarding, as it allows for school fees and medical fees to only be paid directly to the school or hospital abroad. The economy contracted in for the first time in 25 years as output shrank. But the question on the lips of many is; how sustainable the apex bank's new policy can nigeria forex policy, as the measure might fail in addressing the underlying challenges affecting the economy and forex market. Other resolutions nigeria forex policy to retain monetary policy rate at 12 per cent; cash reserve ratio at The note was sold at Emefiele lamented the poor performance of the economy in the first quarter of as a result of rising inflationary pressures from severe shocks related to energy shortages, price hikes, scarcity of foreign exchange and depressed consumer demand, among others. Sheriffdeen Tella, a professor of economics at the Olabisi Onabanjo University in Work from home ft ty dolla lyrics southwestern state of Ogun, said he is not convinced the new policy will not drain Nigeria's external reserves or worsen its exchange rate nigeria forex policy. With the new move, retail users can have a sigh of relief that they can have access to the dollars through commercial banks for personal and business travels, as well as educational and medical fees, among others. It sold six-month bills at A single rate is unlikely By allowing banks to align their rates forex chart screener market rates the government appears to be moving closer to a single rate for the naira, but a number of factors make it unlikely that the government will completely scrap its official exchange rates.

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