CBN Sells $543.5m Forex To Authorised Dealers In 11 Days …C0NTINUE READING HERE >>>
The Central Bank of Nigeria (CBN) sold a total of $543.5 million from September 6 to 30, 2024, to authorized dealer banks through two-way quotes at the Nigerian Foreign Exchange Market (NFEM) within 11 dealing days.
The Central Bank made the disclosure in a statement that was signed by its director, financial markets department, Omolara Duke, on Friday.
The FX spot sales were to reduce observed market volatility driven by high demand for commodity importation and seasonal demand for FX.
The value dates for all the transactions were T+2. Dr Duke said the press release was to educate and…
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