Central bank injects $325 mln, 14 mln yuan into currency market

Central bank injects $325 mln, 14 mln yuan into currency market

by Joseph Anthony
134 views

Central bank on Friday injected $325.5 million and 14 million yuan renminbi ($1.98 million) into the market an effort to keep it stable and prevent shortages.

A central bank spokesman said the dollar intervention was for agricultural machinery and industrial raw materials, while the yuan renminbi was for renminbi-denominated letters of credit.

On Tuesday, the bank offered $100 million to the wholesale market and $55 each to small businesses and individuals with certain dollar expenses such as school fees and medical bills.

A central bank spokesman said the bank would continue to ensure adequate liquidity in the market.

On Friday, $1 exchanged for 358 naira at the bureau de change segment, while 1 renminbi exchanged at 48 naira, the bank said.

You may also like

Leave a Comment

Chijos News is an independent online publication that provides readers with the latest breaking Nigerian news, world news, entertainment, sports, business, and many more.

@2024 – Chijosnews.com. All Rights Reserved.

-
00:00
00:00
Update Required Flash plugin
-
00:00
00:00