This was disclosed by the Director, Corporate Communications Department, Central Bank of Nigeria, Isaac Okorafor, who revealed that the intervention was for requests in the agricultural and raw materials sectors. The Chinese Yuan, on the other hand, was for Renminbi denominated Letters of Credit.
Okorafor expressed satisfaction over the stability in the foreign exchange market which,
according to him, is largely due to sustained intervention by the bank.
He assured that the apex bank would remain committed to ensuring that all the sectors of the forex market continue to enjoy access to the needed foreign exchange.
This was even as $1 exchanged for N360 at the Bureau de Change (BDC) segment of the foreign exchange market, while CNY1 exchanged at N54 today, Friday.
