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No new dollar-naira trades done on Thursday

Published June 16, 2016 Updated June 16, 2016 01:20pm
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By Shoaib Ur Rehman
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imageLAGOS: 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 197.5 naira, 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.

Copyright Reuters, 2016

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