In continuation of its monetary policy thrust, the Central Bank of Nigeria has disbursed $148m to 29 authorised dealers as part of steps to stabilise the foreign exchange market amidst the recent free fall of the naira.
Through a statement posted on its website on Friday, the apex bank disclosed that the sales were made to the dealers on Monday, July 22 and Tuesday, July 23, 2024, between an exchange rate of N1470.00/$1 and N1510.00/$1.
This development comes two weeks after the CBN sold $122.67 million to 46 authorised dealers in a move aimed at promoting market stability and reducing volatility.
A week ago, it also announced that $20,000 was sold to each BDC at the rate of N1,450/$1.
The statement read, “The Central Bank of Nigeria sold a cumulative sum of US S148,000,000.00 in the Nigerian Foreign Exchange market to authorised dealers on July 22 and 23, 2024.
“The sale of foreign exchange was to 29 authorised dealer banks at an exchange rate of 1470.00/US$1-1510.00/US$1.”
