Business

CBN injects $341.75m, CNY14.7m into retail SMIS

Forex non-repatriation: CBN directs banks to submit names, BVN of defaulting exporters

The Central Bank of Nigeria (CBN), has intervened in the Retail Secondary Market Intervention Sales (SMIS), to the tune of $341.75 million as well as CNY14.7 million in the spot and short-tenored forwards segment of the inter-bank foreign market.

CBN Director, Corporate Communications Department, Mr. Isaac Okorafor, made the disclosure, weekend, in a statement in which he added that the United States’ dollar intervention was for requests in the agricultural and raw materials sectors.

According to Okorafor, the Chinese Yuan, was for Renminbi denominated Letters of Credit.

Okorafor further reiterated that the market continued to enjoy stability because of the regular interventions by the Bank.  

He noted that the demand management approach introduced by the Bank had yielded positive results, adding that the CBN management would remain committed to ensuring that all the sectors of the forex market continue to enjoy access to the needed foreign exchange.

It will be recalled that in the last intervention, the bank offered authorized dealers in the wholesale segment of the market the sum of $100million, while the Small and Medium Enterprises (SMEs) and the invisibles segments each received the sum of $55 million.

Meanwhile, $1 exchanged for N358 at the Bureau de Change (BDC) segment of the foreign exchange market, while CNY1 exchanged at N48.

Comment With Facebook

Comments (174)

  1. Hello are using WordPress for your blog platform? I’m new to the blog world but I’m trying to get started and set up my own. Do you need any coding expertise to make your own blog? Any help would be greatly appreciated!|

  2. This is the right blog for anyone who wants to find out about this topic. You realize so much its almost hard to argue with you (not that I actually would want?HaHa). You definitely put a new spin on a topic thats been written about for years. Great stuff, just great!

  3. Rhett is what’s written on my birth certificate but I never really liked that name. To model trains is the thing I love most involving most. Her house at the moment in Idaho and she loves each morning living certainly there. Administering databases is where his primary income is obtained from and his salary recently been really comforting. If you want to find uot more check out his website: #link#

  4. This is the right blog for anyone who wants to find out about this topic. You realize so much its almost hard to argue with you (not that I actually would want?HaHa). You definitely put a new spin on a topic thats been written about for years. Great stuff, just great!

  5. What’s up, for all time i used to check blog posts here in the early hours in the daylight, because i enjoy to gain knowledge of more and more.|

  6. My brother recommended I might like this web site. He was totally right. This publish actually made my day. You can not believe simply how much time I had spent for this information! Thanks!|

  7. Rhett is what’s written on my birth certificate but I never really liked that name. To model trains is the thing I love most just about all. Administering databases is where his primary income is derived from and his salary already been really pleasant. Her house is now in N . c . and she loves normal living certainly there. If you want to find uot more check out his website: #link#

  8. running strollers travel systems are made use of by families that are either one kid or where there aremore than 1 child, we all undersand that children create 1 month to 2 years or more are commonly using strollers like these,

  9. Basil just what you can call me but may refine call me anything such as. My family lives in Ct. One of my favorite hobbies would camp however i haven’t created a dime this particular. Data processing may be the his primary income get from. If you want to find uot more the look at his website: #link#

  10. I like the valuable information you provide in your articles. I’ll bookmark your blog and check again here frequently. I am quite certain I’ll learn plenty of new stuff right here! Good luck for the next!|

  11. This is the right blog for anyone who wants to find out about this topic. You realize so much its almost hard to argue with you (not that I actually would want?HaHa). You definitely put a new spin on a topic thats been written about for years. Great stuff, just great!

  12. Hey there! I’m at work surfing around your blog from my new apple iphone! Just wanted to say I love reading through your blog and look forward to all your posts! Carry on the superb work!|

  13. You have made some good points there. I checked on the net for more information about the issue and found most people will go along with your views on this site.|

  14. Miss is the name I enjoy be called with many is not the name on my birth official document. Vermont is the only place he’s been residing in. One of the very best things in the planet for him is archery and now he has time to battle new methods. I am currently an administrative assistant actually something I just enjoy. Check out the latest news on my website: #link#

  15. “Hi, Neat post. There’s a problem with your website in internet explorer, would test this… IE still is the market leader and a good portion of people will miss your wonderful writing due to this problem.”

  16. Hi there! This blog post could not be written much better! Going through this post reminds me of my previous roommate! He continually kept talking about this. I am going to forward this post to him. Pretty sure he’ll have a great read. Thanks for sharing!|

  17. I just want to tell you that I am just very new to blogging and site-building and absolutely enjoyed you’re web site. Most likely I’m likely to bookmark your site . You certainly have superb articles and reviews. Thanks a lot for sharing your web page.

  18. Nice post. I learn something more challenging on different blogs everyday. It will always be stimulating to read content from other writers and practice a little something from their store. I?d prefer to use some with the content on my blog whether you don?t mind. Natually I?ll give you a link on your web blog. Thanks for sharing.

  19. Hi there, I am Rayna Ary. Supervising has been my day problem for a while and I do not think I’ll change it anytime almost immediately. One of her favorite hobbies usually camp but she can’t make it her area. Some time ago I made a decision to live in Puerto Rico. I’ve been working on my website for a while now. Investigate it here: #link#

  20. Here is some high quality website ! Check this out: magazin pescuit

  21. Greetings. Permit me to start by telling you the author’s name – Thad. My family lives in California fuel tank love each and every living listed. The favorite hobby for him and the kids should be to jog but he’s thinking on starting something state of the art. Supervising has been her regular job for your time and it is something she really enjoy. He’s been working on his website for time now. Test it out here: #link#

  22. Hi, i feel that i saw you visited my web site so i came to go back the want?.I am trying to to find issues to enhance my web site!I assume its adequate to make use of some of your ideas!!|

  23. It’s going to be end of mine day, however before finish I am reading this fantastic piece of writing to increase my know-how.|

  24. There is definately a great deal to know about this issue. I like all of the points you have made.

Comment here

This site uses Akismet to reduce spam. Learn how your comment data is processed.