CBN Supplied $389 million to boost Forex


There was a huge boost at the retail segment of the interbank forex market on Friday as the Central Bank of Nigeria (CBN) intervened with a total sum of $388.6 million sold to authorized dealers in that sector of the market.
 The Acting Director, Corporate Communications, CBN, Isaac Okorafor disclosed that the sum of $87.885 was for spot sales, while $300.8 million was sold as forwards.
 Okorafor explained that the fowards were sold into three tenors of 30,45 and 60 days respectively.

 according to him, the Bank sold $100.95 million as 30 day forwards, $110.48 million as 45 day forwards and $99.37 as 60 day forwards.
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