Nigeria interbank overnight lending rates reach record high of 200 pct -traders

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LAGOS Feb 23 (Naija247news) – Nigeria’s interbank overnight lending rates spiked to a record high of 200 percent on Thursday, as commercial lenders made dollar purchases during the central bank’s special foreign exchange intervention, traders said.

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Overnight placement traded at around 200 percent during early trade but dropped to about 133 percent at market close, said the traders.

 

Naija247news
Naija247newshttps://www.naija247news.com/
Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

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