The Central Bank of Nigeria sold a total of $148 million to authorized dealers in the Nigerian Foreign Exchange Market (NFEM) to provide liquidity to the foreign exchange market.
These transactions took place on July 22 and 23, 2024.
Acting Director of the Corporate Communications Department, Hakama Ali, revealed this information in Abuja on Friday, emphasizing the transparency of the CBN’s operations.
She disclosed that the CBN sold foreign exchange to 29 authorised dealer banks at exchange rates between ₦1470.00/$1 and ₦1510.00/$1.
Ali also stated that the value dates for all transactions conducted on July 22 and 23, 2024, were T+0 and T+1 for sales at the later part of each day
It would be recalled that the CBN also sold a total of $106.5m to 29 authorised dealer banks at rates between ₦1,498.00/$1 and ₦1,530.00/$1 on Thursday, July 18, and Friday, July 19, 2024.
She reiterated the CBN governor’s commitment to stabilising the foreign exchange market.
The governor also assured that the bank will continue to address the supply gap to ensure market stability.
