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"A few directors explicitly supported the authorities view that exchange rate stability reflects improvements in Indias external position and that foreign exchange interventions have been used to avoid excessive volatility not warranted by fundamentals," said the IMF report.
RBI officials, in their meetings with the IMF, said the forex market interventions were in line with the
The Human and Environmental Development Agenda (HEDA Resource Centre), a civil society organisation, has asked the Central Bank of Nigeria to comply with a recent court judgment in its favour. The judgment, relating to the case of "Incorporated Trustees of HEDA Resource Centre v. Governor, Central Bank of Nigeria; FHC/ABJ/CS/1622/2020," was issued on May 3, 2023, by Hon. Justice M.O. Olajuwon.
The RBI's forex market interventions have led to tidy side benefits
The Federal High Court in Abuja has ordered the Central Bank of Nigeria to release information concerning the volume of dollars given out at N305 as well as the sectors and schemes that had been benefiting from the N55 difference to Incorporated Trustees of HEDA Resource Center. The court held that the failure of the apex bank to disclose the information on request by the Civic Media Lab and later by HEDA was unlawful, insisting that FOI Act was enacted to enthrone transparency and accountability.