The Naira on Friday exchanged for N361 to a dollar in the Bureau de Change segment of the market.
This iss as Central Bank of Nigeria (CBN) intervened in the Foreign Exchange Market to the tune of $304.4 million.
The Bank’s Acting Director, Corporate Communications Department, Mr Isaac Okorafor, in a statement in Abuja on Friday reiterated that the objective of the CBN remained to boost liquidity, production and trade.
He said that “the recent interventions were in favour of interests in the agriculture, airlines, petroleum products, raw materials and machinery sectors.
“The CBN will continue to ensure liquidity in the interbank sector of the market as well as sustain its interventions in order to drive economic growth and guarantee market stability.”
Okorafor expressed optimism that the Nigerian economy stood to gain massively from the Bank’s foreign exchange management strategy.
According to him, it can be seen in the accretion to the foreign reserves, which now stands at more than 40 billion dollars.
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