CBN to offer $100 mln currency forwards -traders

Date:

LAGOS, April 18  – Nigeria central bank plans to offer $100 million in currency forwards at an auction on Tuesday, traders said, citing a memo from the bank, to boost liquidity on the interbank market and support the naira.

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

The dollar sale, for which settlement will be between one week and 45 days, is aimed at meeting demand for businesses, the bank said. The sale will be via a wholesale auction.

The naira was quoted at 306 on the official market and changing hands at 405 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