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abujagirl
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Nigeria's naira currency held steady against the US dollar on the interbank market on Wednesday after the central bank tightened liquidity to support the local currency.
The central bank kept interest rates on hold for the 15th time in a row on Tuesday but hiked its cash reserves requirement on private sector deposits by 300 basis points to 15 percent to tighten liquidity in the naira.
The local currency closed at 164.90 to the dollar on the interbank market, the same level as its close the previous day.
Click source for more details: Reuters
The central bank kept interest rates on hold for the 15th time in a row on Tuesday but hiked its cash reserves requirement on private sector deposits by 300 basis points to 15 percent to tighten liquidity in the naira.
The local currency closed at 164.90 to the dollar on the interbank market, the same level as its close the previous day.
Click source for more details: Reuters
