CBN Allocates Another $148m To Authorised Dealers

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The Central Bank of Nigeria has sold a cumulative amount of $148m to authorised dealers in the Nigerian Foreign Exchange Market (NFEM), to provide liquidity to the foreign exchange market.

Acting Director of the Corporate Communications Department, Hakama Ali, explained in a statement that the CBN sold foreign exchange to 29 authorised dealer banks at exchange rates between ₦1470.00/$1 and ₦1510.00/$1.

Ali also stated that the value dates for all transactions conducted on July 22 and 23, 2024, were T+0 and T+1 for sales at the later part of each day

It would be recalled that the CBN also sold a total of $106.5m to 29 authorised dealer banks at rates between ₦1,498.00/$1 and ₦1,530.00/$1 on Thursday, July 18, and Friday, July 19, 2024.

She reiterated the CBN governor’s commitment to stabilising the foreign exchange market.

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The governor also assured that the bank will continue to address the supply gap to ensure market stability.

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