In continuation of its intervention in the inter-bank foreign exchange market, the Central Bank of Nigeria on Friday injected the sum of $218.41 million into the retail Secondary Market Intervention Sales and CNY 18 million in the spot and short-tenored forwards segment of the inter-bank foreign exchange market.
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The Bank’s Director, Corporate Communications Department, Isaac Okorafor, disclosed that the intervention was for requests in the agricultural and raw materials sectors, adding that the Chinese Yuan, on the other hand, was for Renminbi-denominated Letters of Credit.
The Central Bank of Nigeria on Friday again intervened in the retail Secondary Market Intervention Sales to the tune of $294.7 million.
In continuation of its periodic intervention in the inter-bank segment of the foreign exchange market, the Central Bank of Nigeria on Friday injected $269.92 million and CNY 31.34 million in the Retail Secondary Market Intervention Sales of the Foreign Exchange market.
CBN Director, Corporate Communications, Isaac Okorafor, said the sale in the Chinese Yuan was done through a combination of Spot and Short-tenored Forwards.