The Retail Secondary Market Intervention Sales (SMIS) on Friday received a boost of 280.04 million dollars from the Central Bank of Nigeria (CBN).
The bank’s Director, Corporate Communications Department, Mr Isaac Okorafor, made this known in a statement in Abuja.
Okorafor said CBN also injected CNY 28.3 million in the spot and short tenured forwards segment of the inter-bank foreign market.
He explained that the latest interventions in the inter-bank foreign exchange market were for requests in the agricultural and raw materials sectors as well as Renminbi-denominated Letters of Credit.
He expressed satisfaction over the stability of the foreign exchange which, according to him, was largely due to sustained intervention by the bank.
He assured that the bank would remain committed to ensuring that all the sectors of the forex market continue to enjoy access to the needed foreign exchange.