CBN Injects $325.5m Into Retail Market - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (J.T)
October 19, 2019
The Central Bank of Nigeria, CBN has injected 325.5million dollars in the retail Secondary Market Intervention Sales, SMIS and 14million Chinese Yuan in the spot and short tenured forwards segment of theinter-bank foreign market.
The bank’s Director, Corporate Communications, IsaacOkorafor who made this known in a statement in Abuja, explained that the dollarintervention was for agricultural machineries and industrial raw materials.
He said the Chinese Yuan, on the other hand, was forRenminbi denominated Letters of Credit. He further expressed optimism that thestability in the forex market would be sustained.
Okorafor assured the genuine foreign exchange users ofthe commitment of the apex bank towards ensuring adequate liquidity in themarket.
The Director announced that the bank offeredauthorised dealers in the wholesale segment of the market the sum of 100milliondollars.