The naira traded flat against the United States dollar at the inter-bank market on Monday as oil firms’ greenback sales boosted liquidity in the market. The naira recovered to N162.87 against the dollar on Monday, after it touched N163.20 in early trade. The naira had closed at N162.82 to the […]
Tag: Naira
Naira strengthens to highest level in three weeks
The naira rose to its highest level in three weeks against the United States dollar on the inter-bank market on Monday, after the Central Bank of Nigeria intervened in the market. Currency traders added that speculation that the Nigerian National Petroleum Corporation planned to sell dollars also helped the naira […]
Inter-bank rates climb higher on cash shortage
Inter-bank lending rates climbed higher to an average of 15.66 per cent last week, from 14.5 per cent recorded the previous week, after the Nigerian National Petroleum Corporation recalled a portion of its deposits with some banks and forex purchases drained liquidity. Currency traders said the market opened with a […]
