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CBN Intervenes With $279.13m, CNY 46.92m in Retail SMIS

 


Friday,
February 08, 2019 07:05 PM / CBN

 

The
Central Bank of Nigeria (CBN) has again made interventions in the Retail
Secondary Market Intervention Sales (SMIS) of the Foreign Exchange market
totaling $279.13 million and CNY 46.92.
 

Figures
of the sales consummated on Friday, February 8, 2019 revealed that the sum of
$279,128,518.66 was injected to meet requests of customers in the agricultural,
airlines, petroleum products and raw materials and machinery sectors.
 

The
Bank’s Director, Corporate Communications Department, Isaac Okorafor also
confirmed that the sum of CNY46,924,114.04 was for payment of
Renminbi-denominated Letters of Credit for agriculture as well as raw
materials.
 

Friday’s
transaction was in addition to the $210 million injected into the Wholesale,
Small and Medium Enterprises, and Invisibles segments of the market on Tuesday,
February 5, 2019.
 

While
expressing the satisfaction of the Bank’s management at the stability in the
different segments of the foreign exchange market, Okorafor attributed the
level of stability to the Bank’s transparency in foreign exchange transactions.
 

With
the exchange rates closing at N358/$1 on Friday, February 8, 2019, 
Mr. Okorafor, expressed confidence that the Naira will continue to enjoy
stability, given the periodic interventions of the Bank in the inter-bank
segment.

 

Proshare Nigeria Pvt. Ltd.

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Proshare Nigeria Pvt. Ltd.
Proshare Nigeria Pvt. Ltd.





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