Proshare - Facebook Proshare - Twitter Proshare - Google+ Proshare - Linked In Proshare - RSS Feed

Forex: Dealers pick $85.69m out of $100m offered by CBN

Forex
1893 VIEWS
Proshare - Facebook Proshare - Twitter Proshare - Google+ Proshare - Linked In
Proshare

Friday, April 28, 2017/7:29 PM/ CBN  

The Central Bank of Nigeria (CBN) disclosed on Friday, April 28, 2017, that authorized dealers were only able to pick $85.69 million out of the $100 million offered by the Bank offered at Thursday’s FOREX wholesale auction in the inter-bank market.  

Speaking on the development, the Acting Director of Corporate Communications at the CBN, Isaac Okorafor, said the inability of authorized dealers to pick up the whole amount offered by the CBN was a pointer to the fact that there was enough foreign exchange to meet legitimate forex demands within the system.  

While stressing that the CBN had the capacity to sustain the current levels of liquidity in the forex market, he said the Bank was committed and was indeed working to achieve convergence in the forex rates between the Interbank and the Bureau de Change (BDC) segment.   

Meanwhile, reports gathered in Abuja and Lagos in the course of the week indicate that the Naira sustained its momentum against major currencies, especially the United States dollar, exchanging at an average of N380 to $1.
  

Related News 

1.       CBN Offers $100m in Wholesale Forwards

2.      CBN Auctions $185.86m in Retail SMIS

3.      More, Not Fewer Exchange Rates

4.     CBN Sells $25m in New FX Window as Dealers Fail to Subscribe Fully to CBN’s $150m Offer

5.      NZD and CAD Approaching the 0.9630-0.9560 Resistance Area

6.      CBN Injects $246.2m for Wholesale, SMEs, Invisibles

7.  The New 'Investors and Exporters Window' Framework - Another Step to Improving Liquidity

8.     Forex Market Analysis: GBP and USD Consolidates at the 1.2802-1.2889 Resistance Area

9.      CBN Announces the Establishment of Investors' & Exporters' FX Window

10.  USD and CAD May Extend Rise as CAD Consumer Price Index Remains the Focus

 

 

READ MORE:
Related News