Nigeria Injects 543.50 million Dollars to Support Naira
2024-10-09 16:33:22
The Central Bank of Nigeria (CBN) injected US $543.50 million into the Nigerian foreign exchange market between September 6 and 30 in response to currency volatility. The bank attributed the volatility to strong import demand and seasonal factors. Nigeria is facing a shortage of foreign exchange and the government has taken various measures to respond, including restricting foreign currency withdrawals and considering selling oil in local currency.
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