CBN injects $337m, CNY53m into Inter-Bank Forex market

Central bank of Nigeria (CBN)
Central bank of Nigeria building

In another round of intervention, the Central Bank of Nigeria (CBN), on Friday, injected over $337 million in the Inter-Bank Foreign Exchange (Forex) market.

The CBN also intervened to the tune of 53.44 million Chinese Yuan in the Spot and Short tenored forwards of the inter-bank foreign exchange market.

The CBN spokesman, Isaac Okorafor, in a statement in Abuja said that the move was in furtherance of the bank’s commitment to ensuring adequate liquidity and stability in the inter-bank foreign exchange market.

It will be recalled that the bank had on Tuesday injected $210 million in the Inter-Bank foreign exchange market.

Meanwhile, the Naira maintained its steady rate against major currencies around the globe, exchanging for N362 to a dollar in the Bureau De Change segment of the market on Friday.

(NAN)

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