CBN Explains Sources of $2.33bn Into Economy as Currency Dealers Sell Dollar at New Rates

Oct. 23, 2024 - Legit.ng

The development comes amid CBN policies allowing eligible IMTOs to access naira liquidity at the official forex window. CBN data shows that Nigeria’s FX inflows rose by 67.

8% to $27.6 billion in the first half of this year compared to $16.

44 billion in 2023. The naira also improved in the official market.

The local currency traded at N1,552.92 per dollar, up from N1,641 per dollar on Friday, October 11, 2024, an N89 gain in the official market.

Data from the FMDQ Exchange shows that currency dealers in the official market quoted the US dollar at a high of N1,682 per dollar and a low of N1,540...