The Central Bank of Nigeria (CBN) deployed an estimated $2.5 billion into the foreign exchange market in April to stabilise the naira against mounting pressures. The move followed increased demand for the US dollar amid capital flight and heightened currency hedging activities by investors. Despite the interventions, the naira depreciated by 3.90% over the month. … Continue reading CBN Injects $2.5 Billion Into FX Market To Support Naira In April