CBN to offer $150 mln in currency forwards


LAGOS, March 14 (Naija247news) – Nigeria’s central bank said on Tuesday it will sell $150 million in currency forwards on the interbank market through commercial lenders.

The central bank, whiach has been intervening on the official currency market over the past two weeks, told lenders that Tuesday’s sale will be settled within 60 days.

The naira fell to 306 per dollar on Monday from the 305.50 level it has traded since last year after a central bank intervention on the spot market. The currency was quoted at 455 per dollar on the black market on Tuesday.


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Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of and also sits on the board of Students In Business Awards, (SIBA).


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