P
ProfRem
Guest
Naira traded bullish last week gaining 1.57 per cent to exchange at N380 from N386 per dollar it opened on Monday in the parallel market.
This development is coming as the CBN conducted its weekly Secondary Market Intervention Sales (SMIS) auction at the official foreign exchange market.
CBN spokesperson, Isaac Okorafor, disclosed that both the spot and forwards segments garnered $267.3 million, while the wholesale segment got $100 million.
Meanwhile, the Central Bank of Nigeria (CBN) monetary policy committee will meet on Monday in Abuja.
At this third meeting in 2017, experts expect the MPC committee members to keep interest rate unchanged at 14 per cent; hold on Cash Reserve Ratio at 22.5 per cent and retain of Liquidity Ratio at 30 per cent.
The meeting is also expected to help the MPC review major developments in the global and domestic space, and consider way forward for the local economy.
This development is coming as the CBN conducted its weekly Secondary Market Intervention Sales (SMIS) auction at the official foreign exchange market.
CBN spokesperson, Isaac Okorafor, disclosed that both the spot and forwards segments garnered $267.3 million, while the wholesale segment got $100 million.
Meanwhile, the Central Bank of Nigeria (CBN) monetary policy committee will meet on Monday in Abuja.
At this third meeting in 2017, experts expect the MPC committee members to keep interest rate unchanged at 14 per cent; hold on Cash Reserve Ratio at 22.5 per cent and retain of Liquidity Ratio at 30 per cent.
The meeting is also expected to help the MPC review major developments in the global and domestic space, and consider way forward for the local economy.
