One of the techniques of monetary control used by the central bank of Nigeria is

Assessment: JAMB UTME - Economics - 2020 Subject: Economics

Question 1 Report

One of the techniques of monetary control used by the central bank of Nigeria is
Answer Details
Foreign exchange control is the procedure by which a government intervenes in the foreign exchange market, banning or restricting sales and purchases of local currencies by non-residents as well as sales and purchases of foreign currencies by residents. This is one of the techniques used by the central bank for its monetary policies.
Read lesson note on Banking (JAMB)
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