Connect with us

Economy

CBN injects $297.92 into secondary market

Published

on

 The Central Bank of Nigeria CBN has injected 297 92 million dollars into the retail Secondary Market Intervention Sales SMIS The bank s Director Corporate Communications Department Mr Isaac Okorafor made this known in a statement in Abuja on Friday Okarafor disclosed that CBN also injected CNY21 2million in the spot and short tenured forwards segment of the inter bank hellip
CBN injects 7.92 into secondary market

NNN: The Central Bank of Nigeria (CBN), has injected  297.92 million dollars into the retail Secondary Market Intervention Sales (SMIS).

trending news in nigeria today

The bank’s Director, Corporate Communications Department, Mr Isaac Okorafor made this known in a statement in Abuja on Friday.

trending news in nigeria today

Okarafor disclosed that CBN also injected CNY21.2million in the spot and short-tenured forwards segment of the inter-bank foreign market.

trending news in nigeria today

According to him, the United States dollars-denominated transactions are to meet requests in the agricultural and raw materials sectors, while those in Chinese Yuan are for Renminbi-denominated Letters of Credit.

The director reiterated that the bank’s management was satisfied with the continued stability in the foreign exchange market.

He assured that the CBN remained committed to meeting  foreign exchange needs of all sectors of the economy.

Meanwhile, N358 was exchanged to a dollar, while CNY1 exchanged at N46 at the Bureau De Change (BDC) segment of the foreign exchange market on Friday.

betgja
Mustapha Sumaila

NNN is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. We are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and we strive diligently to ascertain the truth in every news report. Contact: editor @ nnn.ng. Disclaimer.