By Tochukwu Bliss, Abuja
The Central Bank of Nigeria (CBN), said it sold a cumulative amount of $148 million to Authorised Dealers in the Nigerian Foreign Exchange Market (NFEM) to provide liquidity to the FX market.
The transactions, it explained, were conducted on July 22 and 23, 2024.
Revealing this in Abuja on Friday, the Acting Director of the Corporate Communications Department, Mrs. Hakama Ali, underscored the transparency of the CBN’s operations.
She disclosed that the CBN sold foreign exchange (FX) to 29 Authorized Dealer banks at exchange rates between N1,470/$1 and N1,510/$1.
Mrs. Sidi Alli also said the value dates for all transactions conducted on July 22 and 23, 2024, were T+0 and T+1 for sales at the later part of each day
Recall that the CBN also sold a total of $106.5 million to 29 Authorized Dealer banks at rates between N1,498/$1 and N1,530/$1 on Thursday, July 18, and Friday, July 19.
She reiterated the CBN Governor’s commitment to stabilizing the FX market, even as he has assured that the Bank will continue to address the supply gap to ensure market stability.
The CBN sold foreign exchange (FX) to 29 Authorized Dealer banks at exchange rates between
N1,470.00/$1 andN1,510.00/$1.
