{"id":11180,"date":"2017-02-27T16:27:05","date_gmt":"2017-02-27T15:27:05","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=11180"},"modified":"2017-02-27T16:27:05","modified_gmt":"2017-02-27T15:27:05","slug":"cbn-to-auction-100m-in-currency-forwards","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/cbn-to-auction-100m-in-currency-forwards\/","title":{"rendered":"CBN to auction $100m in currency forwards"},"content":{"rendered":"

The Central of Bank of Nigeria (CBN) said on Monday it will auction $100 million in forward contracts after selling the U.S. currency last week to boost dollar liquidity and help close the gap between the official and black market exchange rates.<\/span><\/span><\/p>\n

<\/span>The bank sold $370 million in 60-day contracts last Monday while the result of another $230 million forward auction held last week is yet to be released.<\/span><\/p>\n

<\/span>The naira traded at around 305.50 on the interbank market after the bank intervened with $1.5 million on Monday. On the black market, the currency was quoted at 460 per dollar.<\/span><\/p>

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The Central of Bank of Nigeria (CBN) said on Monday it will auction $100 million in forward contracts after selling the U.S. currency last week to boost dollar liquidity and help close the gap between the official and black market exchange rates. The bank sold $370 million in 60-day contracts last Monday while the result …<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[17],"tags":[36],"coauthors":[2392,2393],"class_list":["post-11180","post","type-post","status-publish","format-standard","","category-news","tag-cbn"],"yoast_head":"\nCBN to auction $100m in currency forwards - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/cbn-to-auction-100m-in-currency-forwards\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBN to auction $100m in currency forwards - National Wire\" \/>\n<meta property=\"og:description\" content=\"The Central of Bank of Nigeria (CBN) said on Monday it will auction $100 million in forward contracts after selling the U.S. currency last week to boost dollar liquidity and help close the gap between the official and black market exchange rates. The bank sold $370 million in 60-day contracts last Monday while the result …\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationalwire.com.ng\/sub\/cbn-to-auction-100m-in-currency-forwards\/\" \/>\n<meta property=\"og:site_name\" content=\"National Wire\" \/>\n<meta property=\"article:published_time\" content=\"2017-02-27T15:27:05+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dayo Emmanuel\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/\",\"name\":\"National Wire\",\"description\":\"About Nigerians, Nigerian Business and Other Stories\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/cbn-to-auction-100m-in-currency-forwards\/#webpage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/cbn-to-auction-100m-in-currency-forwards\/\",\"name\":\"CBN to auction $100m in currency forwards - National Wire\",\"isPartOf\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\"},\"datePublished\":\"2017-02-27T15:27:05+00:00\",\"dateModified\":\"2017-02-27T15:27:05+00:00\",\"author\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/806673c5851717dc3067b1a46a6c060f\"},\"breadcrumb\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/cbn-to-auction-100m-in-currency-forwards\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationalwire.com.ng\/sub\/cbn-to-auction-100m-in-currency-forwards\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/cbn-to-auction-100m-in-currency-forwards\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationalwire.com.ng\/sub\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"CBN to auction $100m in currency forwards\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/806673c5851717dc3067b1a46a6c060f\",\"name\":\"Dayo Emmanuel\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/author\/dayo\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"CBN to auction $100m in currency forwards - National Wire","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nationalwire.com.ng\/sub\/cbn-to-auction-100m-in-currency-forwards\/","og_locale":"en_US","og_type":"article","og_title":"CBN to auction $100m in currency forwards - National Wire","og_description":"The Central of Bank of Nigeria (CBN) said on Monday it will auction $100 million in forward contracts after selling the U.S. currency last week to boost dollar liquidity and help close the gap between the official and black market exchange rates. 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