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CBN
The naira has been hitting record lows on the parallel and over-the-counter spot markets.
Naira to sell at a rate of N451 to $1 at the black market as against N450 to $1 recorded on Monday.
The exchange rate at the I&E window is different from the CBN’s published exchange rate.
MPR reduction is ideally supposed to have positive outcomes for banks’ lending rate and the economy.
Naira has been hitting record lows on the parallel and over-the-counter spot markets since early March.
Nigeria's central bank, some weeks ago, resumed dollar sales to individuals and businesses with genuine needs.
A cursory look at data from FMDQ shows that the turnover for the day witnessed significant drop.
Treasury bill auctions shows that the Debt Management Office sold N4.4 billion on the 91-day paper, N7.8 billion on the 182-day bill.
The projection is coming just days after the CBN released its Treasury Bills calendar for Q3 2020.
The naira was strengthened as the commodity-based currency's major earnings, crude oil, remained above the $40 dollar mark
The naira was weakened on the first working day of the week as it depreciated to N387.33 to a dollar at the Investors and Exporters (I&E)
Applicants to the N50 billion credit facility, who have successfully completed the application processes and submitted their account details, should expect credit alerts 48 hours afterwards.