Search

CBN to Sustain Renminbi Auctions Following China Trade Push

CBN to Sustain Renminbi Auctions
  • Central Bank of Nigeria extends Renminbi auctions to support trade-backed transactions
  • Officials cite potential risks from lower oil earnings, rising import bills, and external debt

Lagos, Nigeria – The Central Bank of Nigeria (CBN) will continue its auctions for the sale of China’s Renminbi on trade-backed transactions to authorised dealers, according to the bank’s Monetary, Credit, Foreign Trade and Exchange Rate Policy Guidelines for the 2024/2025 fiscal years, released on Tuesday.

You need an active subscription to continue reading this article.

Recent Business

breaking_news
Namibia Cuts Key Rate to 6.75% as Inflation Moderates
Read More »
breaking_news
Zambia's Central Bank Raises Key Rate to 14.50% to Curb Inflation
Read More »
etty-fidele-oJpkjWcScyg-unsplash
African Cocoa Farmers Push for Sustainability as EU Rules Tighten
Read More »

Recent Politics

generic-1-1024x683
Ghana Names Asiamah as Central Bank Governor as Addison Retires
Read More »
breaking_news
ECOWAS to Maintain Trade Ties with Burkina Faso, Mali, and Niger
Read More »
Ethiopia, Tigray Valley, day life
Cash Withdrawals Surge in Tigray Amid Instability Fears
Read More »

Latest Posts

Latest news insights