CBN sells $148m to 29 authorised dealers in two days

CBN sells $148m to 29 authorised dealers in two days

The Central Bank of Nigeria (CBN) says it has sold foreign
currencies worth $148 million in the Nigerian foreign exchange market (NFEM) to
authorised dealer banks.

 

In a statement on Friday, CBN said the foreign exchange (FX)
was sold to the authorised dealers on July 22 and 23.

 

“The Central Bank of Nigeria (CBN) sold a cumulative sum of
US$148,000,000.00 (One Hundred and Forty-Eight Million United States Dollars)
in the Nigerian Foreign exchange Market (NFEM) to Authorized Dealers on July 22
and 23, 2024,” the apex bank said.

 

“The sale of foreign exchange (Fx) was to 29 (Twenty-Nine)
Authorized Dealer banks at an exchange rate of 1470.00/US$11510.00/US$1.”

 

In addition, the CBN said it bought $2 million from one
authorised dealer bank at the rate of N1,505.00/$.

 

“The value dates for all the transactions held on July 22,
2024, was T+0, while that of July 23, 2024, was T+0,” CBN said.

 

On July 12, the CBN said it sold foreign currencies worth
$122.67 million to 46 authorised dealers in two days to ensure stability and
reduce FX market volatility.

 

Between July 17 and July 18, the CBN said foreign currencies
worth $106.5 million were sold to 29 authorised dealer banks.

 

CBN said it would continue to support various segments of
the official markets with liquidity in the coming weeks.

Source: CBN sells $148m to 29 authorised dealers in two days

 - NigerianEye
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