According to the Central Bank of Nigeria, it has sold authorized dealers in the Nigerian Foreign Exchange Market a total of $148 million.
Hakama Sidi-Ali, the interim director of the CBN’s corporate communications department, claims that the transactions were carried out on Monday and Tuesday in order to give the FX market liquidity.
According to Ms. Sidi-Ali, the CBN sold foreign exchange to 29 authorized dealer banks at rates ranging from N1,470 to N1,510 per dollar.
Ms. Sidi-Ali reaffirmed Yemi Cardoso, the governor of the CBN,’s commitment to stabilizing the foreign exchange market.
She claims that Mr. Cardoso promised that in order to maintain market stability, the CBN will keep addressing the FX supply deficit.
Remember that 29 authorized dealer banks purchased a total of $106.5 million from the CBN at prices ranging from N1,498 to N1,530 per dollar.
