This is the latest in the series of interventions by the CBN to lift the Nigerian Forex market.
The Apex Bank, in a statement by its Acting Director, Corporate Communications at the CBN, Isaac Okorafor, said it opened the new Forex window as a sequel to “bids received from authorized dealers, on behalf of their customers, at the retail auction announced by the CBN on Wednesday, July 5, 2017.”
According to Okorafor, “the $254.3m sold was for companies in the raw materials, agricultural, airline and petroleum industry.”
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He said the Bank had, on June 28 and July 3, 2017, intervened with the sum of $390 million in the wholesale, SMEs and invisibles segments of the market.
Whereas it injected a total of $240 million for spot and forward deals in the Retail Secondary Market Intervention Sales (SMIS).
Mr. Okorafor further restated CBN’s commitment to continue to provide a level playing field for all the sectors in terms of access to foreign exchange.
He noted that Naira on Friday exchanged at an average of N364/$1 in the Bureau de Change segment (BDCs).