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.

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

 

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