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parallel markets

Naira loses at NAFEX, steady in official, parallel markets

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The Nigerian currency, Naira, at the end of business activities on Monday, lost slightly at Nigeria Autonomous Foreign Exchange Fixing (NAFEX) window, but remained unchanged at both the official foreign exchange and unofficial markets. At NAFEX, the Naira, closed trading at 360 to the dollar against 359.98 exchanged on Friday, which indicated a drop of […]

CBN’s $200m FX auction raises interbank lending rate

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cashless

….As yields on short to midterm bonds advance As the Central Bank of Nigeria (CBN) advances towards implementing its new forex policy to ease volatility in forex market, auction of $200 million by the apex bank regulator Thursday triggered remarkable rise on the interbank lending rate. The auction by the CBN which further reduced system […]