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CBN boosts retail forex market with $343.06m

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CBN
Central Bank of Nigeria

CENTRAL Bank of Nigeria (CBN) has again intervened in the retail secondary market intervention sales (SMIS) with $343.06 million.

Figures obtained from the Bank on Thursday indicated that the amount released was for requests in the agricultural, airlines, petroleum products and raw materials and machinery sectors.

Acting Director, Corporate Communications at the CBN, Isaac Okorafor confirmed the figures and noted that the continued intervention was in line with the assurances made by the Governor, Godwin Emefiele, to sustain market liquidity in order to boost production and trade and maintain stability in the forex market.

Speaking further, Okorafor assured that the CBN remained very committed to ensuring that all the sectors continue to enjoy access to the foreign exchange required for the business concerns.

It will be recalled that on Tuesday, this week, the Bank injected the sum of $210 million into the Inter-bank Foreign Exchange Market.

Meanwhile, naira exchanged at N362/$1 in the BDC segment of the market on Thursday, June 14, 2018.

 

The post CBN boosts retail forex market with $343.06m appeared first on Tribune.

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