Commercial banks may now trade foreign exchange on the I & E window, subject to the N1 spread. This implies that the bank can only earn N1 for each dollar sold or purchased. The rate cap at the I&E Window has been abolished, the CBN informed banks in a teleconference. Therefore, subject to a N1 differential between the buy and sell rates, banks and clients are free to trade at any rate. Also, since the official rate of the dollar and that of the parallel market are almost the same, buys of the Forex may instead turn to the banks instead of the parallel market.