The increasing pressure on the naira may have made the Central Bank of Nigeria’s weekly dollar sale at the Retail Dutch Auction System to increase by 260.5 per cent, according to the central bank’s statistics. The data indicated the central bank offered a cumulative total of $3bn to defend the […]
Tag: retail dutch auction system
CBN creates Retail Dutch account for authorised dealers
The Central Bank of Nigeria (CBN) yesterday released guidelines for the operations of the foreign exchange market. The apex bank also created a designated account for authorised dealers. The account named, Authorised Dealers Retail Dutch Auction System (RDAS) Account was opened at the CBN with account number 1000011194. A statement […]
External reserves fall by $3bn, hit one-year low
The nation’s external reserves have dropped to a record one-year low of $44.1bn, according to the latest data from the Central Bank of Nigeria. The statistics also indicated that the reserves had fallen by $3bn between August 14 and December 17. It was on December 28, 2012 that the reserves […]
