The Central Bank of Nigeria, CBN, has released an additional $343.06million into the foreign exchange, forex market to cater for requests in the agricultural, airlines, petroleum products and raw materials and machinery sectors.
Spokesman of the CBN, Isaac Okorafor, said the $343.06 million released to the retail Secondary Market Intervention Sales (SMIS) was to help maintain stability in the forex market
He further said the money will also help boost production and trade in the country.
The apex bank, last week Tuesday auctioned $210 million to forex dealers in the interbank foreign exchange segment of the market.
The fresh tranche was to strengthen the local currency at the forex market.
Okarafor assured that the central bank will continue to support the market to sustain market liquidity. He further assured stakeholders that the CBN remains very committed to ensuring that all the sectors continue to enjoy access to the foreign exchange required for the business concerns.
