Friday, November 16, 2018

Tag "FMDQ"

    CBN may lend directly to companies via commercial papers

CBN may lend directly to companies via commercial papers

The Central Bank of Nigeria might start lending to companies directly by buying their commercial papers.Speaking on Tuesday while announcing the decision of monetary policy committee of the apex bank, Godwin Emefiele, CBN governor, said the bank will be willing to buy if the papers are issued at single digits."The committee believes that the Bank should continue to encourage deposit [...]

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    CBN sells $4.02bn, clears forex demand backlog

CBN sells $4.02bn, clears forex demand backlog

The Central Bank of Nigeria (CBN) has cleared the existing foreign exchange demand to allow the naira effectively reflect market realities intended in the new foreign exchange regime.CBN, through a Special Secondary Market Intervention Sales (SMIS), intervened in the forex market and cleared a forex demand backlog of $4.02bn through spot and forward sales.Isaac Okorafor, the bank’s spokesman, said in [...]

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    EVENING UPDATE: Naira down to 283 as CBN sells FX to 21 banks

EVENING UPDATE: Naira down to 283 as CBN sells FX to 21 banks

The Nigerian naira plunged to 280 against the dollar at the interbank market on Monday evening as the Central Bank of Nigeria (CBN) sold foreign exchange to 21 bidding banks to clear the forex backlog and solve liquidity problems.The naira which opened on Monday at about 253 to the dollar at the interbank market, went up to 263, before settling [...]

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    New forex regime to kick off at N260/$1

New forex regime to kick off at N260/$1

The Central Bank of Nigeria (CBN) is suggesting that the new band for the naira, pending the direction of market forces, will be between 260 and 270 to the dollar.Godwin Emefiele, the CBN governor, had said the position of the naira will be driven by market forces, but in a new document uploaded by the apex bank, it was further [...]

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Exchange Rates

November 13, 2018USDGBPEUR
INTERBANK306397354
LAGOS359475418
KANO359476420
PH360476420
ABUJA359478419
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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