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CBN injects $254.8m into retail forex market


Central Bank of Nigeria (CBN) last week Thursday injected$254.8 million into the retail Secondary Market Intervention Sales (SMIS). This follows the injection of $210 million into the wholesale segment of the Inter-Bank Foreign Exchange market on Tuesday, April 16, 2019, last week.  

The bank also injected the sum of CNY 34.8million in the spot and short-tenored forwards segment of the inter-bank foreign market.

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This was disclosed by the Director, Corporate Communications Department, Isaac Okorafor, who said that the intervention, like in previous sales, was for requests in the agricultural and raw materials sectors.

Okorafor further said that the CBN remained pleased with the performance of the Naira against other major currencies around the globe, stressing that the stability in the market had continued to attract genuine investors and boost trade.

He assured that the bank’s management would remain committed to ensuring that all the sectors of the forex market enjoy access to the needed foreign exchange.