A Review of the Nigerian Energy Industry

Naira appreciates at interbank

Naira appreciates against the dollar
Naira appreciates against the dollar

08 February 2015, Lagos – The Naira, at the Interbank market, on Thursday gained 80 kobo to the dollar, the Central Bank of Nigeria (CBN) says.

The apex bank, in a statement in Lagos, said that the Naira closed at N185.50 from the N186.30 recorded.

The appreciation may be due to regular intervention at the interbank and foreign exchange markets by CBN.

One of such measures included review upward of the Net Open Positions (NOP) of commercial banks’ shareholders’ fund from 0.1 per cent to 0.5 per cent.

The upward review is to increase liquidity at the interbank and foreign exchange markets. The Naira had been on the downward trend due to the drop in oil prices at the international market.

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