Guest Join UsHey Guest,
Welcome, Join our awesome community where you can discuss on various topics :-
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Much More.. or Create an Account

Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
CBN Injects $284.2m, Cny36m Into Retail Secondary Market
The Central Bank of Nigeria (CBN) has injected 284.2 million dollars in the retail Secondary Market Intervention Sales (SMIS).

The bank’s Director, Corporate Communications Department, Mr Isaac Okorafor, made this known in a statement in Abuja.

Okorafor said the move was the latest round of mediation in the inter-bank foreign exchange market.

He said the bank also injected CNY36.0 million in the spot and short-tenured forwards segment of the inter-bank foreign market.

The Spokesperson explained that the United States dollars-denominated transactions were to meet requests in the agricultural and raw materials sectors, while those in Chinese Yuan were for Renminbi-denominated Letters of Credit.

Okorafor added that the bank was satisfied with the continued stability in the foreign exchange market and assured that the CBN would remain committed to ensuring that all the sectors of the forex market continue to enjoy access to the needed foreign exchange.

CBN at the last round of sales on July 23, intervened in the inter-bank sector of the Foreign Exchange market with the sum of 210 million dollars.

Meanwhile, a dollar exchanged for N357 while CNY1 exchanged at N46 at the Bureau de Change (BDC) segment of the foreign exchange market on Friday.

[Image: 9909860_godwinemefielecbngovernor_jpeg3c...cd6fe5ac66]

Possibly Related Threads...
Thread Author Replies Views Last Post
  World Bank injects $2.1bn in Nigeria’s ID, health, road, agric projects Edoman 0 11 02-20-2020, 11:28 AM
Last Post: Edoman
  Market rebounds as financial stocks lift index by 0.17 per cent Edoman 0 26 02-07-2020, 11:18 AM
Last Post: Edoman
  Market capitalisation down by further N114billion Edoman 0 48 01-16-2020, 10:13 AM
Last Post: Edoman
  Customs Impounds Over 4800 Bales Of Second Hand Clothes In Yaba Market, Lagos Edoman 0 62 12-30-2019, 10:23 PM
Last Post: Edoman
  Stock Market Loses N12 Billion Edoman 0 116 12-06-2019, 09:27 AM
Last Post: Edoman
  N253.6b capital flight upsets stock market stakeholders Edoman 0 113 11-27-2019, 11:11 AM
Last Post: Edoman
  Huawei Introduces Huawei P30 lite to Nigeria Market Edoman 0 124 11-07-2019, 09:18 PM
Last Post: Edoman
  NCC to explore $70b telecoms market package Edoman 0 110 11-07-2019, 12:56 PM
Last Post: Edoman

Users browsing this thread: 1 Guest(s)


About contripeople

Contripeople forum description.

              Quick Links

              User Links