Saturday, 4 March 2017

CBN Pumps More Dollars Into Foreign Exchange Market

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As part of strategies aimed at strengthening the Nigerian currency, the Central Bank of Nigeria (CBN) says it will pump more dollars into the foreign exchange market.

Confirming the development to newsmen, the Acting Director, Corporate communications, Isaac Okorafor stated that following improvements in reserve levels, the central Bank is determined to continuously make forex available to all genuine customers.


It worthwhile to note that this development has generated panic among currency traders who are yet to recover from losses suffered in the last two weeks,..owing to sharp and sudden appreciation of the Naira as well as led to release of hard currencies to reduce future loss.
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