2011-01-31 | FMD/DIR/GUI/FXF/VOL1/001

Guidelines for FX Derivatives and Modalities for CBN FX Forwards

The Central Bank of Nigeria (CBN) has released guidelines for FX derivatives and modalities for its FX forwards operations. The CBN aims to deepen the Nigerian inter-bank foreign exchange market and boost trading liquidity by allowing Authorized Dealers to offer FX options, forwards, swaps, and cross-currency interest rate swaps to their customers. The CBN will also provide hedges for CCIRS to support long-term foreign exchange exposure projects. The guidelines cover various aspects, including auction style, trade-backed requirements, bidding platform, settlement, and default management.

Nigeria

Central Bank of Nigeria

Show thumbnail