Friday 1 July 2016

OIL MAJORS AUCTION $37M IN $60M FOREX DEMAND

Central Bank of NigeriaThe long-awaited dollar supply from multinationals and foreign currency earning-firms to the newly-inaugurated inter-bank foreign exchange market under the flexible rate policy was realised yesterday as about $37.2 million was cumulatively auctioned by three oil majors.

Also, the Central Bank of Nigeria (CBN) intervened in the forex market again, selling $7 million at N283 to the dollar on the inter-bank currency market, keeping the currency steady at Wednesday’s record.

Read more @ The Guardian

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