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Forex: CBN lifts retail SMIS with $343.06m

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Forex: CBN lifts retail SMIS with $343.06m – The Central Bank of Nigeria (CBN) yesterday intervened in the Retail Secondary Market Intervention Sales (SMIS) $343.06 million injection.

Figures obtained from the apex bank showed that the amount released was for requests in the agricultural, airlines, petroleum products and raw materials and machinery sectors.

CBN Acting Director, Corporate Communications, Isaac Okorafor confirmed the figures and noted thatthe continued intervention were in line with the assurances made by the Governor, Godwin Emefiele, to sustain market liquidity in order to boost production and trade and maintain stability in the forex market.

Speaking further, Okorafor assured that the CBN remained very committed to ensuring that all the sectors continue to enjoy access to the foreign exchange required for the business concerns.

It will be recalled that on Tuesday, this week, the Bank injected the sum of $210 million into the inter-bank Foreign Exchange Market. Meanwhile, the naira exchanged at N362/$1 in the BDC segment of the market on Thursday, June 14, 2018.

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The post Forex: CBN Lifts Retail Smis with $343.06m appeared first on Financial Watch.



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