The Central Bank of Nigeria (CBN) has announced the sale of foreign currencies worth $148 million in the Nigerian foreign exchange market (NFEM) to authorised dealer banks.
The transactions took place on July 22 and 23, 2024.
The CBN in a statement released on Friday, t detailed the specifics of the sales, emphasizing the substantial impact on the market.
“The Central Bank of Nigeria (CBN) sold a cumulative sum of US$148,000,000.00 (One Hundred and Forty-Eight Million United States Dollars) in the Nigerian Foreign Exchange Market (NFEM) to Authorized Dealers on July 22 and 23, 2024,” the statement read.
The apex bank specified that the foreign exchange (FX) was sold to 29 authorised dealer banks at an exchange rate of N1,470.00/USD and N1,510.00/USD.
In addition to these sales, the CBN also reported the purchase of $2 million from one authorised dealer bank at a rate of N1,505.00/USD.
“The value dates for all the transactions held on July 22, 2024, was T+0, while that of July 23, 2024, was T+0,” the CBN noted.
