BNW

B N W: Biafra Nigeria World News

Forex Sales Slides By 19.3 % Foreign exchange transaction at the 195th session of the Dutch Auction System (DAS) yesterday slid by 19.3 per cent or $22.4 million as the Central Bank of Nigeria (CBN) continued to scrutinise spurious bids. At the close of business yesterday, the naira exchange rate, however gained one kobo against the United States' dollar to close at N132.81. According to the summary of yesterday's transactions, out of the $100 million offered for sale by the apex bank Monday, total amount demanded by 65 banks on behalf of their customers stood at $123,932,683.34, out of which bids amounting to $93,523,500.40 were successful. Unsuccessful bids therefore amounted to $1,656,359.69, while disqualified bids and unfunded account stood at $1,214,904.55 and $223,948.19 respectively. The $93,523,500.40 sold to banks yesterday by the apex bank is 19.3 per cent or $22.4 million less than the $115,943,555.92 sold in the last trading session, while the $123,932,683.34 demanded is 5.6 per cent or $7.3 million less than the $130,932,683.34 demanded in the previous day's transaction. Further analysis indicates that the highest bid rate and the lowest bid rate stood at N139.21 and N131.90 per dollar, respectively. Cumulatively, the $93,523,500.40 sold to banks by the banking watchdog yesterday, brings to $24.330 billion the total amount of foreign exchange that has been sold to banks by the CBN since the debut of the DAS July 22, 2002. Similarly, the $100 million offered to banks Monday brings the total amount of foreign exchange that has been offered by the CBN since the debut of DAS to $18.097 billion. At the export proceeds market the naira exchange rate against the dollar stood at N134.50 per one US dollar, the parallel market rate stood at N139.50 per one US dollar. Who Are We ? | About THISDAYOnLine.com | THISDAY People | Contact Us © Copyright 2000 Leaders & Company Limited

	BNW News
Voice of Biafra | Biafra World | Biafra Online | Biafra Web | MASSOB | Biafra Forum | BLM | Biafra Consortium
	© 2001 BNW BiafraNigeriaWorld  Privacy Policy ---------------------------------------------------------------------------------- Powered by ACENetwork ----------------------------------------------------------------------------------
	Axiom PSI Yam Festival Series, Iri Ji Nd'Igbo the Kola-Nut Series,Nigeria Masterweb