Nigeria’s naira currency hit a three week high against the U.S. dollar on the interbank market on Monday, supported by low demand for hard currency and dollar inflows from foreign banks. The naira closed at 157.05 to the dollar on the interbank, firmer than the 157.30, it closed at on […]
World News
CBN monetary policy: Boosting external reserves, hurting businesses – Analysts
The monetary policy adopted by the Central Bank of Nigeria has impacted positively on Nigeria’s foreign exchange reserves but businesses are faced with high cost of borrowing, writes Okechukwu Nnodim Economists and financial analysts have expressed varied views regarding the determination of the Central Bank of Nigeria to maintain its […]
Forex: CBN supplied $7.05bn in Q2
The Central Bank of Nigeria supplied a total of $7.05bn in foreign exchange in the second quarter of 2012, compared to $6.82bn offered in the first quarter, representing a decline of 3.37 per cent. The CBN, in a publication on Thursday, titled, “Developments in the external sector of the Nigerian […]
