LAGOS Oct 17 Nigerian overnight interbank rate
soared to a record high of 128 percent on Monday on naira cash
shortages after the lenders funded their account with the
central bank to participate in last Friday's currency forward
auction, traders said.
Overnight rates opened at 100 percent on Monday, traders
said, after the money market ended on Friday with no deals as
commercial lenders held onto naira to be able to participate in
Overnight money traded at 14 percent on Thursday.
(Reporting by Oludare Mayowa and Chijioke Ohuocha; Editing by