• News
  • Business
  • Politics
  • Entertainment
  • Sports
  • World News
  • Interviews
  • Press Release
TheSightNews
  • News
  • Business
  • Politics
  • Entertainment
  • Sports
  • World News
  • Interviews
  • Press Release
No Result
View All Result
  • News
  • Business
  • Politics
  • Entertainment
  • Sports
  • World News
  • Interviews
  • Press Release
No Result
View All Result
TheSightNews
No Result
View All Result

CBN Says it Intervened in Retail SMIS with $298.71m, CNY39.69m

TheSightNews . by TheSightNews .
July 12, 2019
in Business
0
CBN Says it Intervened in Retail SMIS with $298.71m, CNY39.69m
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

The Central Bank of Nigeria (CBN) says it has made another intervention in the retail Secondary Market Intervention Sales (SMIS) to the tune of $2698.71million in addition to CNY 39.69million in the spot and short tenured forwards segment of the inter-bank foreign market.

The Director, Corporate Communications Department at the Bank, Mr. Isaac Okorafor, disclosed this on Friday, July 12, 2019, noting that the interventions in United States dollars, just as in previous transactions, were to meet requests in the agricultural and raw materials sectors.

Similarly, the transactions in Chinese Yuan were for Renminbi- denominated Letters of Credit.

Mr. Okorafor also reiterated the satisfaction of the Bank’s management with the stability in the forex market, stressing that the Bank would continue to make necessary interventions in order to ensure liquidity in the Nigerian foreign exchange market.

He said the Bank was further encouraged by the improved inflow of foreign exchange, which has kept the exchange rate around the N360/$1 for close to 30 months.

While urging Nigerians to continue to support the policies of the CBN aimed at boosting the production capacity of local industries as well as creating jobs for citizens, 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.

Meanwhile, a dollar exchanged for N360 while CNY1 exchanged at N55, at the Bureau de Change (BDC) segment of the foreign exchange market on Friday, July 12, 2019.

Previous Post

Buhari Unveils Passport and E-Migrant Centres

Next Post

NIDCOM Calls For Investigation into Death of Nigerian Student in Malaysia

TheSightNews .

TheSightNews .

Next Post
NIDCOM Calls For Investigation into Death of Nigerian Student in Malaysia

NIDCOM Calls For Investigation into Death of Nigerian Student in Malaysia

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Us

Recent Posts

  • HURIWA Urges S/East Governors to Activate Legislative Framework to Back ‘Ebubeagu’, Opening Grazing Ban
  • EBUBEAGU: South East Governors Float Regional Security Outfit
  • FG Names Ebute Metta Train Station After Former Lagos State Governor, Mobolaji Johnson
  • Lagos-Ibadan Railway: Amaechi Urges Contractor to Hasten Work
  • Amaechi: National Transport Policy Will Unveil Untapped Potentials in AfCFTA.

Categories

  • Ad! (2)
  • Articles/Opinions (128)
  • Aviation (161)
  • Business (573)
  • Education (164)
  • Entertainment (112)
  • Features (19)
  • Health (189)
  • ICT (96)
  • Interviews (14)
  • News (1,199)
  • Oil&Gas (200)
  • Politics (391)
  • Press Release (2)
  • Real Estate (8)
  • Religion (59)
  • Security (487)
  • Sports (130)
  • World News (291)
  • News
  • Business
  • Politics
  • Entertainment
  • Sports
  • World News
  • Interviews
  • Press Release

© 2021 The Sight News

No Result
View All Result
  • Home
    • Sample Page
  • Newsletter
  • Press
  • Press Release

© 2021 The Sight News