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
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.
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.