Browsing: CBN

The Nigerian local currency, the naira, rallied across the currency markets on Thursday, driven by improved FX liquidity. In its daily FX report, the Central Bank reported that the spot FX rate rose by ₦1.49 to N1355.85 against the U.S. Dollar.

The Central Bank of Nigeria (CBN) sold N1.9 trillion in Open Market Operation (OMO) bills to investors on Tuesday as part of its strategy to reduce excess liquidity in the financial system.