The Central Bank of Nigeria has ordered banks to sell dollars at the rate of 360 for invisibles such as school fees, medical bills and travel allowances.
Banks had earlier made bids worth $91 million, CBN on its part offered $100 million and the lenders ended up picking $81.35 million, leaving about $18 million for the apex bank.
The apex bank further stated that it would send examiners to banks to ensure the new rates are implemented, warning that all DMBs are prohibited from selling forex meant for invisibles to Bureau De change (BDCs).
He therefore urged customers to report any erring bank refusing to sell at stipulated rates and conditions to the CBN for investigation and appropriate sanctions.
The regulator said that it will now be traded for N360 per Dollar as it will sell to the banks for N357 per Dollar.
While the interbank rate close the week at N307/$, naira sustained gains at the parallel market to N378/$, widening the speculative losses and triggering further apprehension among speculators, who anticipate further losses given the continued crash of the dollar.
"Banks are to post the new rates in the banking halls of their branches immediately".
Daily Sun findings reveal that most forex hoarders who hitherto calculated that the apex bank's interventions were not sustainable have continued to record heavy losses with the latest interventions in February.
Traders are optimistic that the national currency value could rise to about N350 against the dollar.
Derry City captain Ryan McBride dies at 27
And current Derry player Josh Daniels lost his mother, sister, brother in law and nephews in the Buncrana pier tragedy in Donegal. Derry City chairman Phil O'Doherty also told of a "leader on and off the field", adding: "This news is so hard to take in".
Speaking at the weekend, the Acting Director, Corporate Communications Department, CBN, Isaac Okorafor, confirmed the plan to inject more foreign exchange into the forex market in the weeks ahead.
As of now this is only a guess that Google might be bringing forward the support for more themes with the gen-next Android OS. One of the features that will definitely make users excited about the "O" is the Picture-in-Picture feature.
Some are elected by peers, but others are uncontested, especially in sectors most supportive of China's Communist leaders. In her victory speech she promised to mend political divisions that have dogged legislative and policymaking efforts.
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The recipient will get a link that launches a Google Map featuring a floating blue dot that represents your real-time whereabouts. User can also use the feature to allow authorized people to follow them if they are making a trip to specified destination.
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