Inter-bank lending rates climbed to an average of 16.33 per cent on Friday, compared with 13.5 per cent last week, on the back of cash withdrawals by the Nigerian National Petroleum Corporation and foreign exchange purchases. Reuters reported that The market opened with a negative balance of N42bn ($266.08m) on […]
Tag: Inter-Bank Rate
Inter-bank rates up on cash shortage
Inter-bank lending rates inched higher last week to an average of 15.83 per cent, from 15.66 per cent the previous week, after a large cash withdrawal by the Nigerian National Petroleum Corporation and a tax remittance by telecoms company MTN drained liquidity from the system. NNPC, a major dollar supplier […]
