• Wednesday, June 12, 2024
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BusinessDay

CBN asks lenders for dollar levels to shore up naira

CBN’s new FX rules to shore-up dollar supply, stabilise naira

The Central Bank of Nigeria (CBN), on Monday, asked commercial lenders once again to submit demand levels for dollars for it to intervene, dealers said, citing that two-way trading on the interbank market will depend on the level of liquidity.

Read also: CBN’s demand for domiciliary account details causes anxiety in industry

The CBN said it will sell dollars to the interbank at N198 dealers said. But lenders are not allowed to resell the regulator’s dollars among themselves to curb speculation.