The Central Bank of Nigeria, CBN, has invested 297.92 million dollars into the retail Secondary Market Intervention Sales (SMIS).
According to the bank’s Director, Corporate Communications Department, Mr. Isaac Okorafor, who made this known in a statement in Abuja on Friday, the apex bank has also ploughed in CNY21.2million in the spot and short-tenured forwards segment of the inter-bank foreign market.
He pointed out that the US dollars-denominated transactions were for the agricultural and raw materials sectors, while those in Chinese Yuan were for Renminbi-denominated Letters of Credit.
Okorafor said that the bank’s management was satisfied with the continued stability in the foreign exchange market and assured of the CBN’s continued committed to meeting foreign exchange needs of all sectors of the economy.
