Browsing: Money

Short-term Interest Rates Rise as Banking Deficit Soars The short-term benchmark interest rates soared in the money market as banking…

Court Orders Final Forfeiture of $1.4m Linked to Emefiele A Federal High Court sitting in Lagos has ordered the final…

CBN Cuts Interest Rate on Treasury Bills Below 18% The Central Bank of Nigeria (CBN) has cut spot rates on…

Naira: Black Market Spot Rate below N1500 per US Dollar The naira has stabilised around N1500 per US dollar in…

Naira Trades Mixed as Official Rate Exceeds Black Market Quote The naira appreciated faster in the black market, compared to…

The US dollar fell against its major trading partners, except for a gain versus the yen ahead of economic data. A slew of soft data and renewed expectations that US President Donald Trump’s tariffs will only be a short-lived transactional measure hurt the dollar last week, ING said in a note.

Interbank rates eased despite a huge liquidity deficit in the banking system totalling more than N1 trillion. The financial system has maintained a negative liquidity profile in the last five days in the money market in the absence of significant inflows.

Money Market Rates Steady as Banking Deficits Ease The short-term benchmark interest rates closed flattish in the money market as…

The Nigerian naira exchange rate dropped to N1,500 per U.S. dollar at the official currency market on Thursday, marking the fourth successive price depreciation due to FX liquidity shortfall.

Liquidity: Banks Borrow N1.2trn from Central Bank in 1-Day Nigerian deposit money banks (DMBs) with liquidity deficits made the largest…