Home BUSINESS BANKING & FINANCE Central Bank Injects $337 Million, CNY53 Million Into Inter-Bank Forex Market

Central Bank Injects $337 Million, CNY53 Million Into Inter-Bank Forex Market

CBN Governor, Godwin Emefiele

The Central Bank of Nigeria (CBN) has injected over $337 million into the inter- Bank forex market.

The apex bank also intervened in the Retail Secondary Market Sales (SMIS) to the tune of $337,333,646.85, in addition to the sum of CNY53,444,222.38 million in the spot and short tenored forwards of the inter-bank foreign exchange market.

The Bank’s Director in charge of Corporate Communications Department, Isaac Okorafor, said that the move is in furtherance of the bank’s commitment to ensuring adequate liquidity and stability in the inter-bank foreign exchange market.

It will be recalled that the apex bank had, on Thursday, injected the sum of $210 million in the inter-bank foreign exchange market.

Meanwhile, the naira maintained its steady rate against major currencies around the globe, exchanging for N362/$1 in the BDC segment of the market today,  Friday.

Leave a Reply