Naira Free Fall: CBN Clamps Down On Banks, Pegs Trade, Assets In Forex
Eko Hot Blog reports that, in the latest effort to address the free fall of the Naira against the dollar, the Central Bank of Nigeria, CBN, has ordered banks to limit the Net Open Position, NOP, of their foreign currency assets and liabilities to 20 per cent of shareholders’ funds. NOP defines a bank’s risk … Read more