Nigeria's central bank has settled $697 million of one-month outright currency forwards it sold in June at an exchange rate of 280 naira per dollar, one trader said on Friday.
Apex bank has settled $697 million one-month forward at 280 - Trader
The $697 million, part of $4 billion auctioned after the naira was floated last month to help clear a backlog of demand for dollars, was due for settlement on Friday, the trader said.
Central Bank Governor Godwin Emefiele speaks during the monthly Monetary Policy Committee meeting in Abuja, Nigeria January 26, 2016. REUTERS/Afolabi Sotunde
The $697 million, part of $4 billion auctioned after the naira was floated last month to help clear a backlog of demand for dollars, was due for settlement on Friday, the trader said.
Outstanding forwards sold by the central bank also include $1.22 billion of two-month contracts and $1.57 billion due in three months.
The naira opened at a record low of 302.10 to the dollar on Monday, 0.69 percent weaker from its previous close, with $2.50 million traded.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
3 dead, 2 injured in 3-storey building collapse in Kano - NEMA confirms
Lagos NCS visits family of stampede victim, promises nonstop financial support
Husband appeals to I-G to find missing Police wife who went on official duty
ASUU Sokoto demands council reconfirmation, payment of allowances
Yahaya Bello: Charge, prosecute US school for money laundering - Sowore to EFCC
Don't hide deformed kids, they can contribute to nation's growth - Expert
Tragedy as suspected bandits ambush, kill army commander in Katsina
Adeleke wants residents to fish out water pipeline vandals round the clock
APC uncover how Kano govt mobilises protest against Ganduje in Abuja
ADVERTISEMENT