The Central Bank of Nigeria (CBN) has injected $148 million into the Nigerian Foreign Exchange Market (NFEM) through sales to authorised dealers. The transactions, executed on July 22 and 23, 2024, aimed to enhance market liquidity.
Acting Director of the Corporate Communications Department, Hakama Ali, highlighted the CBN’s commitment to transparency in its operations. The foreign exchange was sold to 29 authorised dealer banks at exchange rates ranging from ₦1470.00 to ₦1510.00 per dollar. For these transactions, the value dates were set for T+0 and T+1.
Previously, on July 18 and 19, 2024, the CBN had sold $106.5 million at rates between ₦1,498.00 and ₦1,530.00 per dollar. Ali reiterated the CBN governor’s dedication to stabilising the foreign exchange market and addressing supply gaps to maintain market stability.
