The Central Bank of Nigeria (CBN) said it has injected 323.5million dollars into the retail Secondary Market Intervention Sales (SMIS) for its last intervention for November.

A statement by the CBN Director, Corporate Communications Department, Mr. Isaac Okorafor, which made this known in Abuja, also disclosed that the apex bank also intervened with CNY 17.9million in the spot and short tenured forwards segment of the inter-bank foreign market.

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Okorafor explained that the dollars intervention was for requests in the agricultural and raw materials sectors while the Chinese Yuan was for Renminbi denominated Letters of Credit.

He expressed satisfaction with the stability of the foreign exchange, which he said was due to the sustained intervention by the bank.

He assured of the apex bank’s committed to ensuring that all sectors of the forex market continue to enjoy access to foreign exchange especially during the forthcoming yuletide season.


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