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No new dollar-naira trades done on Thursday -Nigerian central bank official

BusinessDay
1 Min Read

Nigeria’s central bank has not done any new dollar-naira trades on the interbank market on Thursday and did $13.6 million of carryover trades at about the pegged rate of N197.5, an official said.

The central bank on Wednesday said it would begin open-market foreign currency trading next week, abandoning its 16-month-old peg against the dollar and setting the stage for the naira to fall sharply.
Dealers said they expected no interbank currency market activity until the new trading regime starts on Monday.

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