This dynamic has generated excess liquidity in foreign exchange on the foreign exchange market
and has maintained a kind of virtuous circle that has supported the appreciation of the dinar," according to the document.
Get an extensive Stored Program Control(SPC) Exchange Market
analysis of the dominant vendors, their latest products and services, and the competitive landscape of the industry.
Other engagements include implementation of the BOJ's Foreign Exchange Intervention and Trading Tool (B-FXITT); implementation of foreign exchange net open position limits for authorised dealers and position limits for cambios to ensure market soundness and mitigate risk-taking; improving market intelligence; and establishing a foreign exchange market
development committee to facilitate cross-fertilisation of stakeholders' ideas.
"The Integrated foreign exchange market
activity will have a positive effect on the foreign currency market.", he said,Trendreports citing IRNA.
"The BSP's participation in the foreign exchange market
will generally, but not strictly be limited to smoothing volatility of the peso and ensuring orderly conditions in the foreign exchange market
," he said.
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. The report comprises a comprehensive executive summary, including a market snapshot that provides overall information of various segments.
Meanwhile, $1 exchanged for N360 at the Bureau de Change (BDC) segment of the foreign exchange market
, while CNY1 exchanged at N53.
'The SBP will continue to closely monitor the situation and stands ready to intervene in case of any unwarranted volatility in the foreign exchange market
,' it emphasised.
By issuing these statements, all ESCB central banks demonstrate that they are committed to adhering to the principles of the Code when acting as foreign exchange market
participants and ensuring that their internal practices and processes are aligned with the principles of the Code.
The country's finance minister discussed with the International Monetary Fund (IMF) chief over how to reveal the government's interventions in the foreign exchange market
. The IMF chief said the disclosure won't cause unwanted consequences.
This means, a participant in the foreign exchange market
cannot make use of past exchange rates to predict future exchange rates.