Money market

Foreign reserves drop to $33.58bn — CBN

By Kayode Tokede The Central Bank of Nigeria (CBN) said the nation’s foreign reserves dropped to $33.58billion as at August 12, 2021. The foreign exchange buffer in August gained $99.9million to $33.58billion from $33.48billion  it was early in the month.…

Parallel market: Naira trades flat at N510/$

By Kayode Tokede The Naira traded flat at N510.00 at parallel market and also at N411.50 against the dDollar at the Investors & Exporters Foreign Exchange window on Tuesday. However, the overnight lending rate contracted by 25basis points to 13.5per…