MThe Central Bank of Nigeria (CBN) sold a total of $543.5 million to authorised dealers at the Nigerian Foreign Exchange Market (NFEM) in September 2024.
The bank’s Director of the Financial Markets Department, Dr. Omolara Duke, disclosed this in a Summary of September Spot Sales in Abuja on Friday.
According to the director, the sales were through two-way quotes and 11 deals between 6-30 September 2024.
The Spot FX sales were to address observed high FX demand driven by commodity importation and seasonal demand for FX.
The director said that the CBN would continue to facilitate the supply of FX to the NFEM as part of its FX management strategy.
