Direct trading between the Japanese yen and the Chinese renminbi in interbank foreign exchange markets
began simultaneously in Japan and China on June 1 2012.
The People's Bank of China announced Tuesday that China will introduce over-the-counter transactions in the interbank foreign exchange market
The banks have refunded some N900m, the differential between the Interbank Foreign Exchange Market
and the parallel market rates.
The pound sterling was the first currency to be traded since it is the most heavily traded in the United States interbank foreign exchange market
The direct trading market maker system is applied in the interbank foreign exchange market
Okorafor reassured the public that the Bank would continue to intervene in the interbank foreign exchange market
in line with its resolve to sustain liquidity in the market and maintain stability.
The rupee today declined by 16 paise against the US Dollar in late morning trade at 56 rupees 89 paise after reaching 11-month low of 56 rupees 97 paise in early trade on the Interbank Foreign Exchange market
due to heavy dollar demand from importers.
The government will also have to develop a time-bound plan to restart and liberalize the interbank foreign exchange market
and continue with implementation of financial sector reforms, and improving monetary and exchange rate policy transparency.
This is even as the Bank injected a total of $210 million into the Interbank Foreign Exchange Market
in the first round of trading for the year on Monday, January 8, 2018.
At the Interbank Foreign Exchange market
, the local unit resumed sharply lower at 64.
Market makers of interbank foreign exchange market
refer to market participants approved by SAFE to constantly offer market members with deal prices and provide market fluidity through purchase and sale.