CBN Boosts Forex Market by $210m

according to By Modupe GbadeyankaThe Central Bank of Nigeria (CBN) on Monday launched a total of $210 mn into the foreign interchange market. Monday's injection was $15 mn more than what the apex bank usually backing the market with, $195 million. According to him, the apex bank going to sustain its regular intervention. The spokesman more told the CBN was okay with the standard of sanity at the forex market, however warned which the central bank won't hesitate to wield its large stick on any operator which messes up. Mr Okorafor pledged which the CBN going to still to screen operators at the forex market to ensure they play with the rules.

Forex Market description (European Session) – Aussie bounces after RBA Lowe tells following average move Information Systems up; Turkish lira hits record low

Forex Market description (European Session) – Aussie bounces after RBA Lowe tells following average move Information Systems up; Turkish lira hits record lowFacebook Google Plus TweetThe aussie overperformed its peers during the Eu session, posting a powerful rebound after the RBA governor ruled out the potential of expanding stimulus monetary policy. On the other hand, the Turkish lira chock a record low against the greenback after the Turkish president threatened to take control of the Central Bank of the Republic of Turkey (CBRT). In other news, the Turkish president, Tayyip Erdogan, criticized monetary policy, spreading fears of a potential Gov intervention in monetary decisions. The $ topped at an all-time high of 3,9768 againest the Turkish lira in the face of Erdogan's threats. Pound/dollar rose with 0.11% to 1.3241, When euro/pound chock a one ½-week low of 0.8841 before inching up to 0.8856.

Forex Market description (Asian Session) – Euro weakness on political dangers supports dollar; aussie drop after RBA minutes

referring to Forex Market description (Asian Session) – Euro weakness on political dangers supports dollar; aussie drop after RBA minutesFacebook Google Plus TweetTrading conditions were thin on Tuesday as economic releases were few, When the America was in a holiday mode ahead of the Thanksgiving Day on Thursday. The $ remembered steady at one-week high standards during the session as political stir in Germany continued to weight on the euro. The aussie touched a five-month low after the RBA meeting minutes signalled worries on subdued wage growth. Attention going to this day Turn around to federal meeting minutes due on Wednesday, where Businessmen going to be eager to identify any clues on the path of interest rates. This proposed which interest averages perhaps stay at the current record low standards for longer as Australian households are too highly indebted.

collected by :John Locas