Interbank Market Videos

Interbank Market Drop

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Funds in the Interbank Money Market declined by N409 billion in November, 2011.
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Time: 00:45 More in News & Politics

Published on Friday 10th of February 2012 05:19:19 AM Read more...

Naira Up Against the Dollar in Interbank Market

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The naira is up against the US dollar on in interbank trading. About $216 million was sold by three energy companies to some lenders, providing more support for the naira.
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Time: 01:29 More in News & Politics

Published on Friday 10th of February 2012 05:19:19 AM Read more...

Interbank Market

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Uploaded with Free Video Converter from Freemake www.freemake.com
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Time: 01:16 More in Film & Animation

Published on Friday 10th of February 2012 05:19:19 AM Read more...

The naira firmed against the us dollar

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The naira firmed against the us dollar on the interbank market today to its highest level in 18 days after the nnpc sold about $550 million to some banks. The naira closed at n160.95k to the dollar, firmer than n161.55k at thursday's close. Traders said the sudden increase in dollar liquidity in the market, owing to the currency sales by the nnpc. This provided support for the naira as those who won the bids were willing to sell to others at the interbank. Some traders said the naira will likely be trading within the range of n160.20k to n161.50k to the dollar on the interbank market as more energy companies are expected to sell dollars in the market.
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Time: 00:47 More in News & Politics

Published on Friday 10th of February 2012 05:19:19 AM Read more...

NIGERIA SHIFTS FX RESERVES FROM DOLLAR TO YUAN 9-9-2011

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More NEWS at www.newzzcafe.com Nigeria will diversify its forex reserves by placing up to 10 percent of its forex reserves in China's non-convertible yuan currency, says Nigerian Central Bank Governor Lamido Sanusi. Nigeria's central bank will transfer a tenth of its $33 billion foreign exchange holding into yuan assets, it said on Sept. 6. That fits with China's ambition to turn its money into globally accepted tender that matches its status as the world's second-biggest economy. It also deals another blow to the US dollar's status as the world's reserve currency. Nigeria isn't the first to dip a toe into China's yuan pool. The Philippines and Hong Kong too have discussed expanding yuan reserves, presumably to chase political favour and capture long-term currency appreciation. Investible assets aren't easy to find, since China has barely any external debt. But central banks can invest in China's interbank market, as Malaysia did in 2010, on a case by case basis.
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Time: 04:29 More in News & Politics

Published on Friday 10th of February 2012 05:19:19 AM Read more...

Naira Gains

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The naira firmed against the us dollar on the interbank market today. The naira closed at n161.55k to the dollar, firmer than n162.70k to the dollar at tuesday's close. Traders said shell sold around $100 million, while nlng sold $15 million to some banks, boosting dollar liquidity in the market and providing support for the naira. On the official window, the central bank sold $250 million at n156.85k to the dollar. The central bank however did not disclose the amount of dollar demanded at its bi- weekly auction.
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Time: 00:41 More in News & Politics

Published on Friday 10th of February 2012 05:19:19 AM Read more...

12th Sptember 2011 - Daily Market Analysis

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Daily market analysis by Currencies Direct Euro continues to slide The Euro continued its slide in early trading this morning following on from the three cent reversal on Friday afternoon. The market was awash with rumours of an imminent default by Greece and trying to understand the ramifications of the resignation of Juergen Stark, the top German official at the ECB. The Hellenic Republic did not announce a default over the weekend, but they did announce fresh austerity measures in a last ditch attempt to meet the strict budget targets set by the EU for 2011. The departure of Mr Stark from the ECB is very worrying from a credibility point of view. The ECB has been reasonably successful at managing the sovereign debt crisis by preventing a bond market rout. His resignation because of opposition to the ECB bond buying program certainly questions the ECB's credibility and is being reflected in the price of the Euro. The size of the move to what at first glance, looks to be reasonably speculative is because the Euro has lost what has been propping it up; higher interest rates. The dovish ECB press conference on Thursday took out lots of buying support for the Euro, paving the way for a large move which is continuing in early European trading. On the back of the Euro move, Sterling has done well against the single currency, rising above 1.15 and towards 1.16 on the inter-bank market. The Pound will have a busy week, with UK CPI and Jobless Claims due on Tuesday and Wednesday ...
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Time: 02:07 More in News & Politics

Published on Friday 10th of February 2012 05:19:19 AM Read more...