Part 5/8:
The new developments in the FX market and improved transparency hold the potential to influence business operations significantly. Companies can now better predict their foreign exchange needs, allowing for more strategic planning. Umuena described how businesses in Nigeria often devise their fiscal plans based on existing FX rates, illustrating the direct correlation between currency stability and operational efficiency.
Moreover, the transparency brought by the platform could streamline how businesses approach repatriating funds and conducting import-export activities. Such benefits could lead to increased productivity, as companies are less likely to encounter shocks from sudden fluctuations in the currency market.