'Restriction of market demand data creates supply gap at forex market'

The fact that the Central Bank of Nigeria (CBN) has stopped making available foreign exchange demand data to the public has created a supply gap, which has in turn put pressure on the inter-bank market. The Financial Market Dealers Association of Nigeria (FMDA) has stated in its October Financial and Economic Report. CBN's report on its twice weekly Wholesale Dutch Auction System (WDAS) only shows how much foreign exchange was supplied and how much was sold, thus leaving the public vacant on the demand-supply curve.