Nigeria’s naira firmed against the U.S dollar on the interbank market on Monday, supported by dollar sales by two energy companies, which boosted greenback supplies. The local currency strengthened to 157.30 to the dollar on the interbank market, firmer than the 157.40 it closed on Friday. “The market liquidity was […]
Tag: Nigerian Naira
Nigerian interbank rates ease on budget disbursal
Nigerian interbank lending rates eased by 100 basis points this week to an average of 10.41 percent, from 11.41 percent last week, after monthly budgetary allocations to government agencies flooded into the system. The secured Open Buy Back (OBB) eased to 10.25 percent, from 10.5 percent last week, 1.75 percentage […]
Nigerian naira pressured by strong dollar demand
Nigeria’s naira closed flat against the dollar in the interbank market and weakened slightly on the official foreign exchange window on Wednesday as strong dollar demand kept pressure on the local currency, traders said. The naira closed at 157.60 to the dollar at the interbank market on Wednesday, the same […]
