The Central Bank of Nigeria (CBN) said it has injected 325.5million dollars in the retail Secondary Market Intervention Sales (SMIS) and CNY14million in the spot and short tenured forwards segment of the inter-bank foreign market.
According to the bank’s Director, Corporate Communications, Mr. Isaac Okorafor who disclosed this in a statement in Abuja on Friday, the dollars intervention was for agricultural machineries and industrial raw materials while the Chinese Yuan was for Renminbi denominated Letters of Credit.
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He said that he was optimistic that the stability in the forex market would be sustained and assured genuine foreign exchange users of the commitment of the CBN towards ensuring adequate liquidity in the market.
Furthermore, Okafor said that the apex bank offered authorised dealers in the wholesale segment of the market the sum of 100million dollars on Tuesday while the Small and Medium Enterprises (SMEs) and the invisibles segments were given the sum of 55 million dollars each.
