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Nigeria overnight rate falls, cbank mops cash to boost FX reforms

Nigeria overnight rate falls, cbank mops cash to boost FX reforms LAGOS, June 17 (Reuters) - Nigeria's interbank overnight rate fell 250 basis points to 1.5 percent on Friday from a week ago, driven by excess liquidity, prompting the central bank to mop up the naira at higher rates to support its new currency regime.
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Added June 17, 2016
from Reuters Nigeria