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    CBN Sells US Dollars to Banks, BDCs to Boost FX Liquidity

    Ogochukwu NdubuisiBy No Comments1 Min Read
    CBN Sells US Dollars to Banks, BDCs to Boost FX Liquidity

    CBN Sells US Dollars to Banks, BDCs to Boost FX Liquidity

    The Central Bank of Nigeria (CBN) has begun massive FX market intervention, selling US dollars to authorised dealers, and bureau de change operators on Thursday.

    The apex bank, in an effort to defend the naira from free falling, conducted market wide FX intervention as relative lower exchange rates at the informal and official market.

    MarketForces Africa gathered that the apex bank sold $13.5 billion at N1510- N1530 per US dollar to banks and other authorised dealers. In the same vein, the CBN sold $20,000 to each of the BDCs at N1450.00.   #CBN Sells US Dollars to Banks, BDCs to Boost FX Liquidity

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    Ogochukwu Ndubuisi is an editorial content strategist and financial news writer at MarketForces Africa, covering a broad range of topics including Nigeria's equity markets, infrastructure development, energy, government policy, corporate finance, and digital economy.With over 2,400 published articles on MarketForces Africa, Ogochi brings depth and consistency to the publication's daily news coverage.Her reporting spans Nigerian Exchange Group market movements, Lagos State infrastructure projects, and federal government economic policies, oil and gas developments, and emerging sectors shaping Nigeria's economic landscape.She also covers Africa-wide stories, including East African market indices, continental investment trends, and cross-border economic developments.Ogochi works closely with MarketForces Africa's editorial and corporate communications teams to deliver accurate, timely, and well-researched content to the publication's professional readership.Ogochukwu Ndubuisi is based in Lagos, Nigeria.

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