Lenders undersubscribe apex bank's forex offer by $55m

Authorised forex dealers only picked $45 million out of $100 million offered by Central Bank of Nigeria (CBN) on the wholesale spot market, New Telegraph has learnt. The slump in subscription of forex has heightened imminent crash of dollars in coming days as the banking watchdog sustained tempo of liquidity pump into the forex market. Experts noted that it is only a matter of time before the dollar begins another round of crash. They also attributed the new trend to the general cash crunch in the financial system. The dollar...The post Lenders undersubscribe apex bank's forex offer by $55m appeared first on New Telegraph Newspapers.
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