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 […]
Tag: US Dollar
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 […]
Nigeria naira firms on offshore investors’ dollar flow
Nigeria’s naira firmed against the U.S dollar on the interbank market on Wednesday, supported by dollar inflow from offshore investors buying local debt and waning demand for hard currency, traders said. The local unit strengthened to 157.25 to the dollar, firmer than the 157.39 it closed at on the previous […]
