NewStats: 3,262,619 , 8,177,704 topics. Date: Tuesday, 03 June 2025 at 04:41 AM a4j7

The CBN says it will continue to intervene in the foreign exchange market, as it injected $185.86 million into the retail Secondary Market Intervention Sales (SMIS).

Out of the auctioned amount, only $3.14million was sold as spots, while the sum of $182.72million was sold as forwards.

The overall picture of the inter-bank forex market is that of optimism, going by the level of access now being enjoyed by different categories of customers in both the wholesale and retail segments of the market.

Emefiele, while assuring Nigerians of the imminent end of the current recession in 2017, at the end of his meeting with the leadership of the Senate on Tuesday, April 25, 2017, declared that the Bank will continue its relentless intervention in the forex market.

The optimism of the CBN is based on the accretion to the country’s foreign reserve, which currently hovers above the $31billion mark. Reserves stand at above $31bn and that provides enough of firepower or ammunition to be able to defend the currency.

The Bank has assured all shades of genuine customers that the CBN would provide them the needed foreign exchange to meet their legitimate needs.

Source:http://www.dailydigest.ng/cbn-injects-186m-retail-secondary-market-intervention-sales/