The Central Bank of Nigeria sold a total of $1.15bn in February, as against $833m sold in January. A report by the Financial Derivatives Company Limited made available to our correspondent on Friday said inflows from foreign investors and foreign exchange sales by energy firms helped keep the naira stable. […]
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Analysts predict weaker naira
The naira is set to remain on the back foot this week after hitting a seven-month low against the dollar on Thursday as offshore investors sell local debt. Kenya’s shilling is also expected to trade in a narrow band ahead of the outcome of a petition challenging the presidential election […]
Inter-bank rates to drop further on excess liquidity
Financial market watchers have said that the inter-bank rates will drop further this week as a result of excess liquidity in the market. Analysts at FSDH, in a report made available to our correspondent, said, “We expect Open Market Operation maturity of about N249.70bn to hit the system in the […]
