The Central Bank of Nigeria, CBN has injected 325.5 million dollars in the retail Secondary Market Intervention Sales, SMIS and 14 million Chinese Yuan in the spot and short tenured forwards segment of the inter-bank foreign market.
The bank’s Director, Corporate Communications, Isaac Okorafor who made this known in a statement in Abuja, explained that the dollar intervention was for agricultural machineries and industrial raw materials.
He said the Chinese Yuan, on the other hand, was for Renminbi denominated Letters of Credit. He further expressed optimism that the stability in the forex market would be sustained.
Okorafor assured the genuine foreign exchange users of the commitment of the apex bank towards ensuring adequate liquidity in the market.
The Director announced that the bank offered authorised dealers in the wholesale segment of the market the sum of 100million dollars.
