CBN sells $148M to authorised dealers at ₦1470-₦1510/$
The Central Bank of Nigeria (CBN) has sold $148 million to authorised dealers in the Nigerian Foreign Exchange Market (NFEM) to enhance liquidity. The transactions took place on July 22 and 23, 2024.
Hakama Ali, Acting Director of the CBN’s Corporate Communications Department, confirmed that the sales were made to 29 authorised dealer banks at exchange rates ranging from ₦1470.00 to ₦1510.00 per dollar. The value dates for the transactions were T+0 and T+1, depending on the time of day they were completed.
READ ALSO: CBN sells $122.671m to 46 authorised dealers
This follows a previous sale of $106.5 million on July 18 and 19, 2024, with exchange rates between ₦1498.00 and ₦1530.00 per dollar. Ali emphasized the CBN’s commitment to transparency and stability in the foreign exchange market, reaffirming the governor’s dedication to addressing supply gaps and maintaining market stability.
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