* Key interest rate held at 12 pct for 14th time * Cbank says committed to exchange rate stability * Sanusi concerned about falling oil savings, leakages * High spending ahead of elections next year a worry (Adds details, quote, background) Nigeria’s central bank lifted the cash reserve requirement […]
Tag: Interbank
Nigeria naira falls as dollar liquidity thins out
Nigeria’s naira eased against the U.S. dollar on the interbank market on Wednesday as importers started to lock-in their hard currency needs at favourable rates. The local currency closed at 160.35 to the dollar compared with Tuesday’s close of 159.8 naira. Traders said some importers took advantage of the increased […]
CBN defends naira with $4.6b in two months
The Central Bank of Nigeria (CBN) defended the naira with $4.6 billion in two months, The Nation investigation has shown. The funds were offered and sold in 16 Wholesale Dutch Auctions (WDAS) in August ($2.4million) and September ($2.2million). Findings from the CBN website showed that the apex bank maintained steady supply of […]
