Nigeria injects $325m, 14m yuan into currency market

Updated 21 Oct, 2019

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.

Copyright Reuters, 2019

Read Comments