CBN Injects $297.92 Million Into Secondary Market - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Editor 2
August 24, 2019
TheCentral Bank of Nigeria, CBN has injected over two hundred and ninety sevenmillion dollars into the retail Secondary Market Intervention Sales, SMIS.
TheBank’s Director, Corporate Communications Department, Isaac Okorafor who madethis known in a statement in Abuja said CBN also injected 21.2 million ChineseYuan in the spot and short-tenured forwards segment of the inter-bank foreignmarket.
Accordingto Okorafor, the United States dollars-denominated transactions are to meetrequests in the agricultural and raw materials sectors, while those in ChineseYuan are for Renminbi-denominated Letters of Credit.
TheDirector reiterated that the bank’s management was satisfied with the continuedstability in the foreign exchange market. He assured that the CBN remainedcommitted to meeting foreign exchange needs of all sectors of the economy.Meanwhile, three hundred and fifty eight naira is exchanged to a dollar, whileChinese Yuan CNY1 exchanged at forty six naira at the Bureau De Change, BDCsegment of the foreign exchange market on Friday.