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WAEC Economics 2000 Question 39

Question 39

Financial Institutions

Foreign exchange control in most West African countries is enforced by the

  1. A.development banks
  2. B.merchant banks
  3. C.ministry of economic planning
  4. D.central banks.
Show the answer and explanation

Answer: D (central banks.)

Explanation

The central bank manages the country's foreign reserves and enforces exchange control.