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CBN releases another $100m to traders
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CBN releases another $100m to traders

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The Central Bank of Nigeria on Thursday offered $100m to the currency market, expecting traders to settle proceeds within 60 days, currency traders said, quoting a notice from the CBN.

The central bank has been selling dollars to try to narrow the spread between the naira’s official and alternative market rates.

The CBN had on Wednesday intervened in the Bureau de Change segment of the market, selling $10,000 to operators aside the $10,000 it sold to them on Tuesday.

The Acting Director, Corporate Communications, CBN, Mr. Isaac Okorafor, said the special intervention of $10,000 for the BDCs was meant to meet the upsurge in the forex requests of low-end customers.

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