• Interbank market shut over new forex regime

    Interbank market shut over new forex regime

    Barely 24 hours after the Central Bank of Nigeria (CBN) opted to leave naira’s fate to market forces, the Chief Executive Officers of commercial banks and currency dealers will be meeting with CBN’s officials today to discuss trading conditions under the new interbank foreign exchange regime.

    This was even as the CBN could not hold any new dollar-naira trades on the interbank market yesterday but did $13.6 million of carryover trades at the pegged rate of N197.5.

    Dealers said they expected no […]