The Central Bank of Nigeria (CBN) has sold $148 million to 29 authorised dealers in the Nigerian Foreign Exchange Market (NFEM).
The Acting Director of Corporate Communications Department of the CBN, Hakama Sidi-Ali, disclosed this via a statement on Friday, July 26, 2024.
The CBN official noted that the transactions were conducted on Monday and Tuesday, July 23, to provide liquidity to the foreign exchange market.
Sidi-Ali disclosed that the CBN sold $148 million to 29 authorised dealer banks at exchange rates between N1,470 to one dollar and N1,510 to one dollar.
CBN raises interest rate to 26.75%
Sidi-Ali also reiterated the commitment of the CBN Governor, Olayemi Cardoso, to stabilising the foreign exchange market.
She said Cardoso has assured that the CBN will continue to address the foreign exchange supply gap to ensure market stability.
It would be recalled that the apex bank also sold $106.5 million to 29 authorised dealers at rates between N1,498 and N1,530 to one dollar.
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