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Forex: CBN Injects $303m, CNY 46.58m Into Retail SMIS

The Central Bank of Nigeria (CBN), on Friday, injected the sum $303.91 million into the interbank retail Secondary Market Intervention Sales. The Bank, in a statement by its Director, Corporate Communications, Isaac Okorafor, also announced the sale of CNY 46.58 million in the spot and short-tenored forwards. According to the figures obtained from the apex Bank, the US dollar-denominated interventions were only for concerns in the agricultural and raw materials sectors. Okorafor said that the exercise which…

CBN Injects $543m, CNY 63m Into Forex Market

The Central Bank of Nigeria, on Thursday and Friday, injected a total sum of $543.22 million and CNY 63.21 million into the inter-bank foreign exchange market. The CBN’s Acting Director, Corporate Communications Department, Mr. Isaac Okorafor, who confirmed the figures on Friday, said the latest intervention is to ensure the availability of foreign exchange to genuine customers. Okorafor said the Bank remained committed to maintaining the country’s external reserves to safeguard the international value of the Naira…
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