Nigeria’s naira firmed against the U.S dollar on the interbank market on Monday, supported by dollar sales by two energy companies, which boosted greenback supplies. The local currency strengthened to 157.30 to the dollar on the interbank market, firmer than the 157.40 it closed on Friday. “The market liquidity was […]
World News
External reserves climb to $42bn
Latest figures from the Central Bank of Nigeria have shown that foreign exchange reserves jumped to $42.02bn by October 17, the highest in 32 months and an increase of 3.11 per cent, month-on-month. Figures on the CBN website showed that the reserves, which stood at $40.75bn a month ago, were […]
Nigerian interbank rates ease on budget disbursal
Nigerian interbank lending rates eased by 100 basis points this week to an average of 10.41 percent, from 11.41 percent last week, after monthly budgetary allocations to government agencies flooded into the system. The secured Open Buy Back (OBB) eased to 10.25 percent, from 10.5 percent last week, 1.75 percentage […]
