CBN Intervenes in FX Market - THISDAYLIVE

The Central Bank of Nigeria last Friday made interventions in the Retail Secondary Market Intervention Sales of the foreign exchange market totaling $271.83 million and CNY 41.14million.

Okorafor expressed satisfaction with the performance and stability of the country’s economy, noting that the country would experience more growth as the Bank has placed restrictions on the purchase of forex from the Nigerian foreign exchange market for items in the textile and cotton value chain. Meanwhile, the naira exchanged at N360/$1 on Friday, in the Bureau De Change segment of the market.

The central bank had introduced the forex window as well as a raft of other measures to improve dollar liquidity on April 27, 2017, when the country faced a severe forex crisis.

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Forex: CBN intervenes with $271.83m, CNY41.14m – Daily TrustThe Central Bank of Nigeria (CBN), on Friday, made interventions in the Retail Secondary Market Intervention Sales (SMIS) of the Foreign Exchange market totaling $271.83 million and CNY41.14m. The Director, Corporate Communications at the CBN, Mr. Isaac Okorafor, also confirmed that CNY41.14m was for payment of Renminbi-denominated Letters of Credit for agriculture, as well as …
Source: Daily Trust - 🏆 13. / 51 Read more »