The Director, Corporate Communications Department at the CBN, Isaac Okorafor, confirmed the figures, noting that the dollar-denominated interventions were for transactions in the agricultural and raw materials sectors. On the spot and short-tenored sales in Chinese Yuan, he said they were similarly for payment of Renminbi denominated Letters of Credit for agriculture and raw materials based on bids received from authorised dealers.
While reiterating the Bank’s support to the inter-bank FX market, he disclosed that the Bank’s management was pleased with the level of stability at both the Bureau-de-Change (BDC) and the Investors’ and Exporters’ (I&E) window of the FX market.
(This Day )
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