The Nigerian naira fell to its weakest in three weeks on the interbank market on Monday, as dollar demand by foreign exchange bureaux and importers outpaced supply of hard currency, traders said. The naira closed at 157.55 to the dollar on the interbank market, weaker than 157.40 to the dollar […]
More News
Inter-bank rates up on NNPC cash withdrawal
Inter-bank lending rates rose more than 80 basis points last week to an average of 11.41 per cent, compared with 10.58 per cent the previous week, as cash outflows to Treasury bill sales and a withdrawal by the Nigerian National Petroleum Corporation drained liquidity. Dealers said Central Bank of Nigeria […]
CBN to stop selling cash to bureaux de change – Sanusi
GOVERNOR, Central Bank of Nigeria, Mr. Lamido Sanusi, said in Tokyo on Sunday that the bank would soon stop selling cash to bureaux de change. He said, “Seventy per cent of the dollars that people buy from bureaux de change are not for transactions outside Nigeria. They move dollars from […]
