Browsing: BMATCH

Naira Skids Across FX Markets as CBN Intervention Slows The naira plunged across foreign exchange markets as Central Bank of…

The naira plunged against the US dollar by three basis points, or 2 bps, closing at N1,537.03 in the official market. The exchange rate came under pressure this week as aggressive FX intervention by the Central Bank of Nigeria (CBN) eased.

The naira appreciated against the US dollar on BMatch system deployed by the Central Bank of Nigeria (CBN) for authorised currency dealers. Exchange was however studied at Nigeria’s autonomous foreign exchange market.

The naira exchange rates mixed as Nigeria’s $2.2 billion Eurobonds raised boosted market confidence.