Nigeria central bank limits interbank dollar holdings to 72 hours - TopicsExpress

Nigeria central bank limits interbank dollar holdings to 72 hours . Nigerias central bank said on Tuesday that dollars bought from the interbank market can be held only for up to 72 hours, after which they must be sold back to the central bank at its own day rate, a circular seen by Reuters showed. The move is intended to curb speculation on the naira, which has been hit hard in the past few months by falling oil prices. Reuters LAGOS, Jan 13 2015