• Forex market records unprecedented inflow, as exchange rate moderates at N305/$

    Forex market records unprecedented inflow, as exchange rate moderates at N305/$

    Pressure on foreign exchange rate eased, yesterday, as the interbank market recorded an unprecedented inflow of USD327 million with a single transaction of USD270 million by foreign investors.

    This development drove interbank rate down to N305.5/ USD1, from last Friday’s closing rate of N314.95/ USD1.

    Governor, Central Bank of Nigeria (CBN), Mr Godwin EmefieleGovernor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele

    Bank treasurers said the development came as foreign investors lined up to buy local currency bonds in response to the attractive […]