28 September 2017

Nigeria: Naira Depreciates to 360/$ in Nafex As CBN Plans to Sell N130.4b T-Bills

The naira, yesterday, depreciated to N360 per dollar in the Nigerian Autonomous Foreign Exchange, NAFEX, just as the Central Bank of Nigeria, CBN plans to sell N130.4 billion treasury bills next month.

Data from the Financial Market Dealers Quote, FMDQ, yesterday, showed that the indicative Exchange Rate for the Investor and Export ,(I & E ) Window, known as Nigerian Autonomous Foreign Exchange, NAFEX, depreciated marginally by 11 kobo to N360 per dollar from N359.89 per dollar recorded on Wednesday, even as the volume of dollars traded remained unchanged at $250.29 million.

Meanwhile, naira further appreciated in the parallel market to N365 per dollar from N366 per dollar recorded on Wednesday, indicating the third day of consecutive appreciation of the naira against the dollar this week.

Meanwhile, the Central Bank of Nigeria (CBN), yesterday, revealed plans to commence sales of N130.4 billion worth of treasury bills (T-bills) at an auction on the 4th of October 2017.

The apex bank further revealed that the N130.4 billion worth of bills comprises of N28.69 billion bills worth 91 days, N33.49 billion bills worth 182 days and N68.18 billion bills worth 364 days.


Dozens Killed As Floods Wreak Havoc in Katsina

No fewer than 25 persons were reportedly killed, 90 houses destroyed, over 260 livestock confirmed dead, several people… Read more »

See What Everyone is Watching

Copyright © 2017 Vanguard. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 800 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.