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HomeBusiness NewsMoney marketCBN sells $543.5 m FX in September

CBN sells $543.5 m FX in September

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The Central Bank of Nigeria (CBN) sold a total of $543. 5 million to Authorised Dealers at the Nigerian Foreign Exchange Market (NFEM) last month.

The bank’s Director of Financial Markets Department, Dr. Omolara Duke, disclosed this in a Summary of September Spot Sales in Abuja, last night.

According to the director, the sells were through two-way quotes and 11 deals between September 6-30, 2024.

The Spot FX sales were to address observed high FX demand driven by commodity importation and seasonal demand for FX.

READ ALSO: Tinubu succumbs, confers GCON on Reps Speaker, Tajudeen Abbas

The director said that the CBN would continue to facilitate the supply of FX to the NFEM as part of its FX management strategy.

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