Regulatory Alerts2024-07-19 | FMD/CIR/GEN/01/19-07-2024FX SPOT Sales of US$106.5 Million to Authorized Dealers
The Central Bank of Nigeria (CBN) has intervened in the foreign exchange market by selling US$106.5 million to authorized dealers to improve forex supply and stabilize the market. This action aims to address the demand pressure from corporate entities and the seasonal uptick during the summer. The CBN assures the public that it will continue to support the official markets with liquidity and closely monitor authorized dealer banks' compliance with trading rules and regulations.
Tags
monetary
fx