Forex, CBN Assures Availability Of Foreign Exchange

The Central Bank of Nigeria, (CBN) has assured that it would ensure the continued availability of foreign exchange in the country.



Mr Isaac Okorafor, the Apex bank's Acting Director for Corporate Communications, in a statement on Monday made the assurance.

He said the CBN will sell short tenured forwards of 7-30 day maturity to satisfy demands of foreign exchange users including manufacturers.

"In the weeks ahead the CBN will sustain its intervention through the sale of foreign exchange to all segments of the market i.e PTA/BTA,  Wholesale SMIS, Retail SMIS and the BDC.

"These significant injections of foreign exchange into the market should reassure all foreign exchange users of our determination to continue to meet all legitimate FX determination in the market while striving to achieve exchange rate stability in the market."