CBN Sells $148m to Authorised Dealers to Strengthen FX Market
The Central Bank of Nigeria (CBN) on Friday disclosed it sold a cumulative amount of 148 million dollars to authorised dealers in the Nigerian Foreign Exchange Market (NFEM).
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According to Mrs Hakama Sidi-Ali, acting Director, Corporate Communications Department of the apex bank, the transactions were conducted on Monday and Tuesday to provide liquidity to the FX market.
Sidi-Ali, disclosed that the CBN sold FX to 29 authorised dealer banks at exchange rates between N1,470 to one dollar and N1,510 to one dollar.
Sidi-Ali reiterated the commitment of the CBN Governor, Yemi Cardoso, to stabilising the foreign exchange market.
According to her, Cardoso has assured that the CBN will continue to address the FX supply gap to ensure market stability.
