CBN Injects $364m Into Inter-Bank Forex Market

To sustain liquidity and moderate rate, Central Bank of Nigeria (CBN) on Tuesday, intervened in the Inter-Bank Foreign Exchange Market to the tune of $364million. A breakdown of Tuesday’s intervention indicates that the Retail Secondary Market Intervention Sales (SMIS) received the largest allocation of $264,192,252.95. The CBN also offered the sum of $100,000,000 to authorised dealers in via IFTTT