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EXCHANGE RATE STABILITY
On Friday, August 23rd, the US Federal Reserve Chair, Jay Powell delivered a much awaited speech at the Jackson Hole symposium hinting at a possible interest rate cut in the coming months.
The Association of Bureau De Change Operators of Nigeria (ABCON) has said that the recall of Bureau De Change operators (BDCs) into the mainstream forex market is a major factor in the current stability being experienced with the exchange rate.