FOREX: CBN Offers, Receives Bids For $100m

By: Olajide Toriola

The Central Bank of Nigeria (CBN), says it has offered and received bids for $100 million from authorized dealers in the interbank market to meet the requests of genuine customers.

The CBN spokesman, Isaac Okorafor, disclosed this on Thursday, adding that the sales will be settled on Friday.

He, however, disclosed that no intervention was made by the Bank to meet requests for invisibles on Thursday.

Okorafor reiterated that the CBN will continue to make necessary interventions in the interbank market to meet all legitimate transaction-based foreign exchange demands by customers.

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It will be recalled that the Bank in its last auction sale offered $150 million to the interbank market with the highest bid rate at N335/$1, while the marginal rate was N320/$1.

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