FOREX MARKETS

The Central Bank of Nigeria (CBN) injected another $250 million into the foreign exchange market on Monday to keep the inter-bank market liquid. The wholesale sector got about $100 million, while the Small and Medium Enterprises (SMEs) window received a boost of $80 million. A total of $70 million went...

• FMDQ asked banks to quote the naira off Nafex trades: Ecobank • Naira’s quoted interbank rate weakens to same level as Nafex Nigeria took a step to unify its multiple exchange rates by allowing banks to use a currency window for investors when quoting the naira rather than the...

The Central Bank of Nigeria (CBN) has said it will sell $100 million at a special foreign currency auction on Monday, the latest in a series of interventions that it said had yielded positive results in the forex market. In a notice to commercial lenders, the regulator said the dollar...

The Central Bank of Nigeria (CBN) plans to auction an undisclosed amount of dollars through book building to settle a backlog of demand for airlines, fuel and raw material imports, traders said. Traders said the CBN had asked lenders to bid for hard currency for specific sectors in efforts to...

The Central Bank of Nigeria (CBN) said on Monday that it released $81.2 million for dollar requests in its continuing drive to improve liquidity. In a statement, the bank said it provided $44 million to meet requests for expenses such as medical and school fees, and to cover travel allowances....

The Central Bank of Nigeria (CBN)plans to offer $100 million in currency forwards at an auction on Tuesday, to boost liquidity on the interbank market and support the naira, traders said, citing a memo from the CBN The dollar sale, for which settlement will be between one week and 45...

Nigeria's overnight lending rate rose by 2.5 percentage points this week after the Central Bank of Nigeria (CBN) debited bank accounts for debt purchases, draining liquidity in the money market. The overnight lending rate increased to 14.5 percent on Friday, up from 12 percent at the start of the week,...

The Naira on Tuesday appreciated against the dollar at the parallel market after a sustained one-week depreciation. The Nigerian currency traded between N380 (buying rate), and N390 (selling rate) stronger than N395 recorded on Monday, while the Pound Sterling and the Euro closed at N480 and N415 respectively. At the...

  as CBN eases FX pressure on real sector The latest data  of the Central Bank of Nigeria (CBN) has shown that the nation’s external reserves closed last year (2016) with a total balance of $25.781billion by 29 December, 2016, showing a decline of $3.288 billion  compared with the $29.069...

The Central Bank of Nigeria (CBN) on Monday asked banks to submit bids for a "special currency auction" to clear the backlog of matured outstanding dollar obligations for selected sectors of the economy, traders said on Monday. The CBN instructed commercial lenders to submit backlog dollar demand from fuel importers,...