Regulatory Alerts2015-01-12 | TED/FEMFPC/GEN/01/001Added · Updated
Daily Foreign Currency trading Positions of Banks and Period for Utilisation of Funds
The Trade and Exchange Department is notifying authorized dealers of a change in the daily foreign currency trading positions of banks. Dealers are required to maintain a maximum open limit of 0.1% of their Shareholders' Funds as a foreign currency trading position at the close of each business day. Banks must utilize funds purchased from the autonomous/interbank foreign exchange market within 72 hours or return them to the CBN for repurchase.
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