July 27, 2016/CBN In continuation of the efforts to enhance efficiency, facilitate liquidity and transparency in the foreign exchange market, the CBN issued the Revised Guidelines for the Operations of the Nigerian Inter-bank Foreign Exchange Market on June 15, 2016. One of the effects of the Guidelines, which liberalized the […]
Money Market
Naira Weaken All-Time Low 5.8%, Trades 378/$1 at Parallel Market
By InvestAdvocate Lagos (INVESTADVOCATE)-The naira on Wednesday weakened to an all-time low falling by 5.8 percent against the greenback to trade at N378.00 in the parallel market, while the pounds sterling and euro traded at N492.00 and N413.00 respectively. Cordros daily market update reports that the Nigeria’s local currency traded […]
CBN Raises MPR to 14%
By Peter OBIORA InvestAdvocate New York (INVESTADVOCATE)- The Central Bank of Nigeria’s (CBN’s) Monetary Policy Committee (MPC) on Tuesday raised Monetary Policy Rate (MPR) 200 basis points from 12 percent to 14 percent, Cash Reserve Ratio (CRR) was retained at 22.5 percent and Liquidity ratio at 30 percent, while the […]
