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
jamb 2020economics

The correct answer is C. foreign exchange control

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.

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