The Central Bank of Nigeria (CBN) has again pumped the sum of $293 million into the Retail Secondary Market Intervention Sales (SMIS) of the inter-bank Foreign Exchange Market.
In a statement today, Friday, the Bank’s Acting Director of Corporate Communications Department, Isaac Okorafor, said that the sum, as in previous interventions, were in favour of interests in the agricultural, airlines, petroleum products, raw materials and machinery sectors.
Isaac Okorafor reiterated that the objective of the CBN intervention in the foreign exchange market remained to ensure liquidity in the foreign exchange market and enhance production activities.
He stressed that the CBN would continue to ensure liquidity in the interbank sector of the market as well as sustain its interventions in order to drive economic growth and guarantee market stability.
Meanwhile, the naira remained stable and exchanged for N361/$1 in the BDC segment of the market today, Friday, May 18.
