The Central Bank of Nigeria (CBN) announced that it sold $106.5 million in foreign currency to authorized dealers and eligible Bureau De Change (BDC) operators on Thursday and Friday to enhance FX supply across various market segments.
This disclosure was made in a statement released on Friday, signed by Omolara Duke.
The apex bank stated that the on-the-spot FX sales to dealers over the last 48 hours were conducted at exchange rates ranging between N1,498.00 and N1,530.00 per dollar, amidst increased FX demand pressure. Additionally, CBN purchased $9.5 million from four authorized dealers within the same period at exchange rates between N1,510.00 and N1,550.00 per dollar.
“Over the next few weeks, the CBN will continue to support various segments of the official markets with liquidity,” the statement read.
“On Thursday, July 18 and Friday, July 19, 2024, the CBN sold a total sum of $106.5 million to 29 authorized dealer banks at exchange rates ranging from N1,498.00/US$1 to N1,530.00/US$1.
In addition, it bought $9.5 million from four authorized dealer banks at rates between N1,510.00/US$1 and N1,550.00/US$1. The value date for all transactions is July 19, 2024,” the statement concluded.
