August 16, 2017/Reuters Namibia’s central bank cut its benchmark lending rate by 25 basis points to 6.75 percent on Wednesday, citing the need to support economic growth and maintain the one-to-one link between the Namibian dollar and the South Africa rand. Namibia’s economy slipped into recession in the first quarter […]
Money Market
CBN Injects $364m into Inter-Bank Forex Market
Culled—Proshare 15/8/2017/CBN The Central Bank of Nigeria (CBN) on Tuesday, August 15, 2017, intervened in the Inter-Bank Foreign Exchange Market to the tune of $364million in a bid to sustain liquidity in the market. A breakdown of Tuesday’s forex intervention indicates that the Retail Secondary Market Intervention Sales (SMIS) received […]
Naira drops to 370 on lack of dollar supply
August 16, 2017/Punch Oyetunji Abioye The naira depreciated against the United States dollar at the parallel market on Tuesday to 370, down from 368/dollar on Monday. The local unit had closed at 367/dollar on Friday. The development followed lack of dollar sale by the Central Bank of Nigeria on Monday. […]
