CBN injects $294 million, CNY31.43 million into retail SMIS

The Central Bank of Nigeria has again injected $294.7 million in the retail Secondary Market Intervention Sales .

And the bank also offered the sum of 31.43 million Chinese yuan in the spot and short-tenored segment of the inter-bank foreign exchange market.

The Director, Corporate Communications Department, CBN, Isaac Okorafor, disclosed that the United States’ dollar intervention was for requests in the agricultural and raw materials sectors while the Chinese Yuan was for Renminbi-denominated Letters of Credit.

Advertisement

Mister Okorafor adds that the market is stable due to regular interventions by the Bank

Related posts:

CBN injects $242.04m, CNY32.3m into retail SMIS CBN injects $321.1M, CNY 33.3M into retail SMIS CBN injects $284.2m into retail secondary market CBN injects $284.2m in Retail Secondary Market CBN injects $325 million, 14 million yuan into currency market CBN injects $210 million into foreign exchange market CBN injects $210 million into Forex to ensure liquidity CBN lifts retail intervention with injection of $293m