Share This Post

Businessday / Featured

CBN Injects More Dollars Into FX Market Even As Naira Remains Stable At 385/$1

CBN Injects More Dollars Into FX Market Even As Naira Remains Stable At 385/$1

The naira has recently remained stable in the parallel market, exchanging at N385 to the dollar.

Despite the stability of the Nigerian currency, $457.3 million was yesterday, injected by the Central Bank of Nigeria (CBN) into different segments of the foreign exchange market.

Parallel market surveys carried out yesterday indicated that the exchange rate in the parallel market which closed last week at N385 per dollar still closed at the same rate yesterday.

The recent stability of the Naira is being largely attributed to a potential CBN dollar sale of $20,000 each of the over 3000 bureaux de change (BDCs) today.

Also the Investors and Exporters (I&E) foreign exchange window remained at N383 per dollar, maintaining its stability as well.

Facebook Comments

Share This Post

1 Comment

  1. Profile gravatar of Temitayo

    If things can get better, please, carry on. We haven’t even gotten anywhere yet

    Reply

Leave a Reply

Your email address will not be published.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

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Lost Password

Register