By Dayo Omoogun
The Central Bank of Nigeria (CBN) injected the sum of $292.34m into the retail Secondary Market Intervention Sales(SMIS) and another CNY22.8 in the spot and short tenure forwards interbank foreign market on Friday 21, February, 2020.
The Director of Corporate Communications Department, Isaac Okorafor, who made the disclosure,added that the dollar-denominated intervention was for requests in the agricultural and raw materials sectors, while the Chinese Yuan was for Renminbi-denominated Letters of Credit.
As at the date of this intervention, $1 exchanged for N358 at the Bureau de Change (BDC) segment of the foreign exchange market, while CNY1 exchanged at N46.