CBN

In line with its intervention in the interbank foreign exchange (forex) market, the Central Bank of Nigeria (CBN) at the weekend, injected the sum of $218.41million into the retail Secondary Market Intervention Sales (SMIS) and CNY 18million in the spot and short-tenored forwards segment of the inter-bank forex market.

The bank’s Director, Corporate Communications Department, Isaac Okorafor disclosed that the intervention, like in previous exercises, was for requests in the agricultural and raw materials sectors, adding that the Chinese Yuan, on the other hand, was for Renminbi-denominated Letters of Credit.

Okorafor, in a statement, further expressed satisfaction over …