Tue Nov 11, 2014/Reuters Nigeria’s naira currency weakened slightly on the interbank market on Tuesday due to strong demand for dollars from foreign investors. The local currency closed at 168.40 to the dollar, compared with 168.20 the previous day. Traders said the central bank had intervened in the market to […]
Money Market
Banks to lose N40bn to new CBN regulation
Deposit Money Banks will lose over N40bn in interest income to the Central Bank of Nigeria’s new regulation which reduces lenders’ remunerable daily placement at the CBN’s Standing Deposit Facility to N7.5bn, Afrinvest Research has shown. This comprises banks’ interest income from November 2014 to December 2015. The CBN had, […]
‘Investors expected downgrade of South Africa debt rating’
Financial markets expected Moody’s Investors Service downgrade of the South African government’s debt rating, Investec said on Friday. “The Moody’s downgrade was expected, as typically the agency keeps SA’s rating one notch above the rating of either Fitch and/or (Standard & Poor’s) depending on which has the lowest rating for […]
