One of the techniques of monetary control used by the Central Bank of Nigeria is?
a
selective credit control
b
budget deficit
c
foreign exchange control
d
monitoring the general price level
Explanation
Correct Option
cNo explanation available
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Deepthinker581
4 years ago
The answer is correct
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.
