Apex bank boosts retail SMIS with US$396.18m forex injection

Apex bank boosts retail SMIS with US$396.18m forex injection: The Central Bank of Nigeria (CBN) has intervened in the Retail Secondary Market Intervention Sales (SMIS) segment of the market with the injection of US$396.18m.

The forex intervention is to boost liquidity in the foreign exchange market and make the greenback available to key segments of the economy.

According to figures obtained from the CBN at the weekend, the released fund is meant to meet obligations in the agricultural, airlines, petroleum products and raw materials and machinery sectors.

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