The Central Bank of Nigeria (CBN) sold a cumulative amount of US$148,000,000.00 to authorised dealers in the Nigerian Foreign Exchange Market (NFEM) to provide liquidity to the forex market.
The transactions were conducted on July 22 and 23, 2024.
Disclosing this in Abuja on Friday, the Acting Director of the Corporate Communications Department, Mrs. Hakama Sidi Ali, underscored the transparency of the CBN’s operations.
She disclosed that the CBN sold foreign exchange (FX) to 29 authorised dealer banks at exchange rates between N1470.00/US$1 and N1510.00/US$1.
Alli also stated that the value dates for all transactions conducted on July 22 and 23, 2024, were T+0 and T+1 for sales at the later part of each day.
It will be recalled that the CBN also sold a total of US$106,500,000.00 to 29 authorised dealer banks at rates between N1,498.00/US$1 and N1,530.00/US$1 on Thursday, July 18, and Friday, July 19, 2024.
She reiterated the CBN Governor’s commitment to stabilizing the foreign exchange market.
The Governor has assured that the bank will continue to address the supply gap to ensure the market stability.
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