The Central Bank of Nigeria has resumed currency sales to Bureau De Change operators after a four-month break.
This came after the top bank certified FX sales of $122.67 million to 46 authorized dealers on Friday.
A statement signed by the Bank’s Director in charge of Financial Markets, Omolara Duke, said the new release is part of the bank’s determination to promote stability and reduce market volatility in the foreign exchange market.
The statement read in part, “The Central Bank of Nigeria has sold the sum of $122,671,000 to 46 authorised dealers in its determination to promote stability and reduce market volatility in the foreign exchange market.”
Earlier this week, Nigeria’s external reserves increased yet again, reaching $35.05 billion as of July 8, 2024.
This is the first time it has crossed the $35 billion ceiling under the administration of President Bola Tinubu.
