your e-mail address. After assessing the various risk profiles available, the committee resolved to adopt dollar forex exchange the least risky option by adopting a flexible foreign exchange policy to restore the automatic adjustment properties of the exchange rate. Proshare is Nigerias Premier Financial, Business and Economic Information Hub (since 2006). OR, register, to receive our NEW investment newsletter containing intelligent investing news, data, analysis and research, type in your e-mail address. Some of our Trademarks are: WebTV, TheAnalyst, Proshare, Personal Finance, The Nigerian Capital Market Reports, Money Africa, The Nigerian Investor, Making Money in the Nigerian Capital Market, Investor Relations Service, Proshare Investment Clubs, Evaluating your Financial Health, Becoming your own Stock Analyst. Recent data from the National Bureau of Statistics indicated that the economy contracted to about.36 per cent in the first quarter of the year, the first time in over a decade.
Consequently, he said the Committee had mandated the CBN to implement reforms that would promote greater flexibility of rate and transparency in the operation of the inter-bank foreign exchange market. Okoroafor said the monetary regulator was pleased with the cooperation by players in the inter-bank market, which he noted had enjoyed a great deal of stability following regular interventions by the CBN. Emefiele lamented the poor performance of the economy in the first quarter of 2016 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. He said despite the efforts by the CBN to keep the economy afloat, they seem insufficient to fully avert the impending economic contraction, as the conditions that led to the contraction in the economy in the first quarter of 2016 remained largely unresolved.
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