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Tag Archives: interbank market

Cash Reserve Requirement: CBN Withdraws N1tn From Banking System

Posted ago by admin

The Central Bank of Nigeria  began the implementation of its new 50 per cent Cash Reserve Requirement policy, which requires Deposit Money Banks to keep 50 per cent of all public sector funds with the central bank. Consequently, the CBN …

Naira Depreciates As Foreign Investors Exit Nation’s Bond Market

Posted ago by admin

The Naira depreciated by 98 kobo at the interbank foreign exchange market and by one kobo at the official market in spite of $500 million sale by Central Bank of Nigeria. From N160.8125 per dollar, the exchange rate of the …

Naira Falls To N159, Weakest In 10 Months

Posted ago by admin

Nigerian Naira fell to its weakest level in almost 10 months on the interbank market on Friday, driven down by strong demand for the dollar by offshore investors exiting the bond market and repatriating dividends, traders said. Naira closed at …