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Browsing: Nigerian Forex Policy Shift
- About US$5 trillion is traded every day in forex markets, with investors effectively swapping currencies the world over.
- In Nigeria, the Central Bank has abandoned its long-standing currency peg, meaning that the currency will be exchanged at a fluctuating rate as determined by the market.
- Currently, the shift in Nigeria’s forex policy may have a more direct impact on Nigerians and local economies, too.
Forex trading constitutes one of the truly universal methods of investment practiced around the world. As such, it is incredibly popular. The latest estimates suggest that roughly US$5 trillion is traded every day in forex markets, with investors effectively swapping currencies the world over.
As much as forex is thought of as a free-flowing, global marketplace of currency trades, the market in individual countries and regions can still be affected by government regulations.
This is proving to be the case of late in Nigeria, where new …