Sept 5, 2016/IMF The Arab Monetary Fund (AMF), the International Monetary Fund (IMF) and the World Bank are pleased to announce the publication of a report on the findings of a survey on the withdrawal of Correspondent Banking Relationships (CBRs) in the Arab region. This survey, which was undertaken from […]
Money Market
Nigeria central bank ends banks’ suspension from FX market
August 31, 2016/Reuters Nigeria’s central bank ended the suspension of eight lenders banned from the interbank currency market for failing to remit money owed to the government, it said on Wednesday. The central bank tightened restrictions on the flow of dollars to domestic lenders in March. That forced the banks […]
Nigeria’s naira hits new record low of 420 per dollar on black market
August 31, 2016/Reuters Nigeria’s central bank sold dollar to some commercial lenders on Wednesday to support the local currency, which hit a fresh all-time low of 420 to the dollar on the unofficial market, the same day Africa’s biggest economy officially slid into recession. The currency traded at 418 to […]
