The Nigerian naira eased against the U.S. dollar on the interbank market on Monday, reflecting strong demand for the greenback from importers, traders said. The naira closed at 157.40 to the dollar, weaker than Friday’s close of 157.30 naira. At a foreign exchange auction on Monday, the central bank […]
Tag: Foreign Exchange
Forex: CBN supplied $7.05bn in Q2
The Central Bank of Nigeria supplied a total of $7.05bn in foreign exchange in the second quarter of 2012, compared to $6.82bn offered in the first quarter, representing a decline of 3.37 per cent. The CBN, in a publication on Thursday, titled, “Developments in the external sector of the Nigerian […]
Nigeria’s Central Bank reduces NOP limit to 1%
By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-Nigeria’s Central Bank Tuesday reduced its Foreign Exchange Net Open Position (NOP) limit to Banks to one percent (1%) down from 3%. This was contained in a Circular with reference number TED/FEM/FPC/GEN/01/018 and dated July 24 2012 signed by Batari Musa, Director Trade & Exchange […]
