CBN to offer $150 mln in currency forwards

Date:

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.

Thank you for reading this post, don't forget to subscribe!

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.

 

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.

Share post:

Subscribe

Popular

More like this
Related

“Two broke people dating should be a crime” – Cynthia Morgan

March 28, 2024. Azonuchechi Chukwu. Nigerian singer, Cynthia Morgan has explained...

Positive Outlook for Nigeria as Interest-Rate Increases Spark Investor Interest

Nigeria Leads Emerging-Market Rebound Amidst Policy ReformsAs the first...

“West Africa’s Cocoa Crisis: Chocolate Prices Soar Amidst Devastation”

Janet Gyamfi, a 52-year-old cocoa farmer from western Ghana,...

Nigeria’s New Mining Licensing Strategy: A Shift Towards Local Processing

Nigeria is shifting its mining licensing process to prioritize...
Social Media Auto Publish Powered By : XYZScripts.com

Discover more from Naija247news

Subscribe now to keep reading and get access to the full archive.

Continue reading