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Published On: Fri, Jun 15th, 2018

Forex: CBN boosts Retail SMIS with $343.06m

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Central Bank of Nigeria (CBN)

Central Bank of Nigeria (CBN)

By Etuka Sunday

The Central Bank of Nigeria (CBN) has again intervened in the Retail Secondary Market Intervention Sales (SMIS) to the tune of $343.06 million.
Figures obtained from the Bank on Thursday, June 14, 2018, indicate that the amount released was for requests in the agricultural, airlines, petroleum products and raw materials and machinery sectors.
The Acting Director, Corporate Communications at the CBN, 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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