According the media reports, experts and bankers have been blaming the government, saying it has now allowed market forces to decide the rupee-dollar exchange rate since the central bank was not intervening in the
inter-bank market.
However, the
inter-bank rate, registered a deprecation of 65 paisa as the dollar traded at Rs141 against Rs140.35 on Thursday.
Last Friday, the CBN injected $210 million into the
inter-bank foreign exchange market.
This channel facilitates Intra and
Inter-Bank Funds transfers, Utilities Bill Payments.
Seemingly the State Bank is satisfied with the situation as the open market dollar rates are below
inter-bank rate and there is no readjustment as per market rate.
According to the lead researcher, Professor Victor Murinde of SOAS University London, collateral in
inter-bank lending is likely to eliminate credit risk premiums incurred by smaller banks that are mostly used by borrowers at the bottom of the pyramid.
As a major participant in Chinas
inter-bank market, ICBC has won several times the Most Market Influence, Best Market Maker and Best Settlement Agent of Overseas Institutions of the
inter-bank local currency market rated by the China Foreign Exchange Trading System.
In a speech, Governor Emefiele said that the Bank decided the time was right to restore a market-driven exchange rate along with the re-introduction of a flexible
inter-bank exchange rate market.
TOKYO, Jan 12 (KUNA) -- China's central bank allowed more overseas central banks and similar institutions to enter the country's
inter-bank foreign exchange market on Tuesday, state-run Xinhua News Agency reported.
The non-cash transactions in the
inter-bank foreign exchange market for 7 October amounted to $842.346 thousand
MANAMA: Bahrain-based standard setting body, International Islamic Financial Market (IIFM), yesterday launched the IIFM
Inter-Bank unrestricted master investment Wakalah agreement.
ICICI Bank said that it would charge customers INR5 per transaction when they perform
inter-bank transfers of funds using their mobile phones.
