The Central Bank of Nigeria on Friday continued its intervention in the inter-bank foreign exchange market by injecting the sum of $292.34 million into the retail Secondary Market Intervention Sales.
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The Central Bank of Nigeria on Friday made interventions in the Retail Secondary Market Intervention Sales of the Foreign Exchange market totaling $271.83 million and CNY41.14 million.
Confirming the figures, the Bank’s Acting Director, Corporate Communications Department, Isaac Okorafor, said interventions by the CBN in both the retail and wholesale sectors of the forex market were targeted primarily at ensuring liquidity in the market as well as encouraging production and trade, particularly now that the focus was on the promotion of local content.