CBN has spent $581 million on forex interventions at the Nigeria Autonomous Foreign Exchange Market - FMDQ

NIGERIA — The Central Bank of Nigeria (CBN) has so far spent $581 million on foreign exchange interventions at the Nigeria Autonomous Foreign Exchange Market this year, data from the FMDQ Securities Exchange has shown. This is as the governor of the apex bank Dr Olayemi Cardoso said the CBN is not spending the country’s external reserves on defending the value of the naira. He stated this at the ongoing 2024 Spring Meetings of the International Monetary Fund and the World Bank in Washington DC on Wednesday. FMDQ data showed that the CBN has only sold $581 million in the official market... leadership.ng