CBN sells $313 million in forward auction

The Central Bank of Nigeria (CBN) has sold about 313 million Dollars, in a two-month forward auction to clear a backlog of Dollar demand.
This is the third of such auctions since the launch of the forwards market in June 2016.

German firm declines offer to print new Zimbabwe currency

A German company has refused to print Zimbabwe’s controversial new currency forcing President Robert Mugabe’s government to delay its introduction amid worsening cash shortages.
The Reserve Bank of Zimbabwe (RBZ) announced in May that it will introduce bond notes that will be at par with the United States dollar to address liquidity challenges.
RBZ governor John Mangudya, who initially announced that the notes would be in circulation by October, said a German company had been given the printing contract.
The launch of the ‘surrogate currency’ was moved to next month and on Friday a leading business newspaper in Zimbabwe revealed that the delays were caused by Giesecke and Devrient’s refusal to print the notes.
Giesecke and Devrient printed the Zimbabwe dollar until the country abandoned the currency in 2009 after it was ravaged by 500 billion percent inflation.
The German embassy in Harare confirmed that the company had refused to print the new currency.
“According to the information that we have from the said company, it will not print bond notes for