By InvestAdvocate New York (INVESTADVOCATE)-The Central Bank of Nigeria (CBN) in its effort to stabilise the naira has authorised agent banks approved for international money transfer operators to sell foreign currency accruing from inward money remittances to licenced Bureau De Change operators. This is contained in a circular with reference […]
Money Market
Nigeria’s central bank intervenes to stem naira slide – traders
July 22, 2016/Reuters Nigeria’s central bank sold dollars on the interbank currency market on Friday, seeking bids of $5 million each from primary market trader after the naira-dollar rate fell to a record low of 331 per dollar, traders said. The naira firmed to 300 per dollar after the central […]
Nigeria naira falls 9.5 pct to hit record low of 330 per dollar
July 22, 2016/Reuters Nigeria’s naira currency hit a record low of 330 per dollar in regular interbank trading on Friday, falling 9.5 percent as traders tested lower levels seeking to attract liquidity in the absence of central bank interventions. The naira slipped to 298.50 per dollar on thin volumes at […]
