The Central Bank of Nigeria injected $11.24bn into the economy to stabilise the value of the naira from January 2022 to July.Information Guide Nigeria
This information was acquired from the banking regulator’s monthly economic reports on foreign exchange market developments.
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According to the report, the naira was stabilized with $7.6 billion in the first five months of the year.
It stated, “Total foreign exchange sales to authorised dealers by the Bank were $1.75bn in July, a decrease of 15.4 per cent relative to $2.07bn in June. A breakdown shows that foreign exchange sales at the interbank/invisible window and matured swaps decreased by 22.0 per cent and 59.1 per cent, respectively, to $0.13bn and $0.27bn, below their respective levels in the preceding month.
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The report read, “Total foreign exchange sales to authorised dealers by the bank were $1.18bn, a decrease of 24.4 per cent, below $1.56bn in April.
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