There is a lot of action in the United States, as well as Canada, Mexico, and South America, during this session.
The Central Bank of Nigeria (CBN), Thursday said it will stop selling forex to Deposit Money Banks by the end of 2022.
![CBN Governor, Godwin Emefiele. [CREDIT: Bloomberg]](https://gazettengr.com/wp-content/uploads/CBN-Governor-Godwin-Emefiele.jpg)
The yuan is allowed to rise or fall by two per cent from the central parity rate each trading day.
The House of Representatives member wants CBN to seize all dorm accounts for 12 months.
President Muhammadu Buhari says CBN governor Godwin Emefiele is serving in his regime at “a most challenging” period.
Analysts predict that the sell pressure would persist as investors adjust their holdings following CBN’s shut out of BDCs from forex supply.
Analysts at Cordros Research say the CBN’s ban on forex sale to BDC operators will further pressure the exchange rate in the parallel market.
“Third-party forensic audit remittances for the year 2018, 2019 and 2020 are scheduled to begin in the fourth quarter of this year.”
The market closed at N406.54 to a dollar on Tuesday, depicting a drop by N1.41 compared to N405.13 to a dollar traded on Monday.
