The Central Bank of Nigeria, CBN has injected over two hundred and ninety seven million dollars into the retail Secondary Market Intervention Sales, SMIS.
The Bank’s Director, Corporate Communications Department, Isaac Okorafor who made this known in a statement in Abuja said CBN also injected 21.2 million Chinese Yuan in the spot and short-tenured forwards segment of the inter-bank foreign market.
According to Okorafor, 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, three hundred and fifty eight naira is exchanged to a dollar, while Chinese Yuan CNY1 exchanged at forty six naira at the Bureau De Change, BDC segment of the foreign exchange market on Friday.
