CBN injects $263m, CNY39m

NIGERIA’S CENTRAL BANK on Friday, injected fresh sum of $263 million intothe Retail Secondary Market Intervention Sales (SMIS), this being its first intervention in that sector this year.

This was in addition to the sum CNY39 million consummated through acombination of spot and shorttenored forwards, arising from bids received from authorised dealers.

Also, Godwin Emefiele CBN governor will further unfold the bank’s plans for the year during the first Monetary Policy Committee (MPC) meeting for the year scheduled for January 21 to 22, 2019.

The figures obtained from the CBN revealed that the US dollar-denominated interventions were for requests in the agricultural and raw materials sectors while the Yuan sale was for payment of Renminbi-denominated Letters of Credit for agriculture.