Yemisi Izuora
The Central Bank of Nigeria, CBN, has undertaken
another round of retail interventions in the interbank foreign exchange market providing a total sum of $367,134,329.93 to meet requests of customers.
A breakdown of the forwards shows that the sum of $144,073,753.07 was for 45 days forwards, while $223,060,576.86 was for 60 days.
The CBN Acting Director in charge of Corporate Communications, Isaac Okorafor, who confirmed the release, explained that the move was in line with the Bank’s determination to ease the foreign exchange pressure on various sectors through forward sales under
the new flexible Foreign Exchange regime to keep the market liquidity.