Home Business $318.03m, CNY 62.18m injected into SMIS — CBN

$318.03m, CNY 62.18m injected into SMIS — CBN

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The Central Bank of Nigeria (CBN) on Friday injected $318.03 million in the retail Secondary Market Intervention Sales (SMIS) of the inter-bank foreign market

The CBN also offered CNY62.18 million in the spot and short-tenored forwards segment.

The bank’s Director, Corporate Communications, Isaac Okorafor, while confirming the sales, reiterated that the retail SMIS were for requests in machineries, agricultural and raw materials sub-sectors, while the Chinese Yuan was for Renminbi denominated Letters of Credit.