Tag: interbank foreign exchange market
-
Naira appreciates as CBN plans to pump more dollar into FX market
As the Naira continues to appreciate against the dollar and other foreign currencies amid liquidity boost, indications emerged at the weekend that the Central Bank of Nigeria, CBN is unrelenting in its move to ensure more liquidity in the interbank foreign exchange market as plans are underway to inject more into market early this week.…
-
CBN’s intervention plunges naira further
The Central Bank of Nigeria’s intervention at the interbank foreign exchange market failed again on Thursday as the naira crashed further against the dollar to N176.10, down from Wednesday’s N174.15. Foreign exchange dealers said the CBN stepped up dollar sales, selling close to $250m to support the naira, but the action failed to quench the…