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 […]
Tag: Wholesale Dutch Auction System
CBN defended naira with $26.6bn in 2013 – Report
In a bid to save the naira from devaluation last year, the Central Bank of Nigeria defended the currency with approximately $26.6bn from the nation’s external reserves; findings by our correspondent have shown. Information obtained from the CBN website on Monday revealed that the bank sold about $26.6bn to currency […]
Banks await outcome of new forex auction system
Banks and financial market dealers are waiting to see how the Central Bank of Nigeria’s newly introduced retail foreign exchange auction system, called Retail Dutch Auction System, will affect the economy. The CBN had on Wednesday replaced the wholesale foreign exchange auction method, called Wholesale Dutch Auction System, with the […]
