By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Daily Report NigeriaDaily Report NigeriaDaily Report Nigeria
Notification Show More
Font ResizerAa
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Reading: CBN Sells $543.5m Forex To Authorised Dealers In 11 Days
Share
Font ResizerAa
Daily Report NigeriaDaily Report Nigeria
  • METRO
  • NEWS
  • POLITICS
  • SPECIAL REPORT
  • FACT FILE
Search
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Have an existing account? Sign In
Follow US

Home | CBN Sells $543.5m Forex To Authorised Dealers In 11 Days

Business

CBN Sells $543.5m Forex To Authorised Dealers In 11 Days

Olaitan Sodiq
Olaitan Sodiq
Published: June 7, 2025
Last updated: June 7, 2025
2 Min Read
Share
CBN Reacts to Naira Devaluation
SHARE

In a move to stabilize the foreign exchange market, the Central Bank of Nigeria (CBN) has sold a total of $543.5 million to authorized dealer banks.

This significant injection of forex into the market is aimed at reducing volatility and promoting market stability.

The sales were made through two-way quotes at the Nigerian Foreign Exchange Market (NFEM) within 11 dealing days, according to the CBN’s director of financial markets, Omolara Duke. The value dates for all the transactions were T+2.

The CBN’s move is a welcome step to address the high demand for commodity importation and seasonal demand for FX, which has been driving market volatility.

ATTENTION: Click “HERE” to join our WhatsApp group and receive News updates directly on your WhatsApp!

This move is part of the CBN’s holistic FX Management strategy to facilitate the supply of FX into the Nigerian Foreign Exchange Market. With this significant injection of forex, the CBN has demonstrated its commitment to promoting market stability and supporting economic growth.

The impact of the CBN’s move on the forex market is yet to be fully seen, but experts believe it will help reduce volatility and stabilize the exchange rate.

The sales were made at a time when the exchange rate had closed at N1,554.65/$1, the lowest level since March 2024.

 

For publication of Press Releases, Statements, and Advert Inquiries, send an email to info@dailyreport.ng
TAGGED:CBNFx dealersTop Stories
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest Updates

Brake Failure Blamed As Container Truck Crushes Driver in Lagos | Daily Report Nigeria
Brake Failure Blamed As Container Truck Crushes Driver in Lagos
Metro
Atiku Meets Obasanjo, Shettima, El-Rufai, Others | Daily Report Nigeria
Atiku Meets Obasanjo, Shettima, El-Rufai, Others
Politics
Davido Claims Ibiza Nightclub Security Tried to Kill Him | Daily Report Nigeria
Davido Claims Ibiza Nightclub Security Tried to Kill Him
Entertainment
Favour Ofili Switches Allegiance to Turkey | Daily Report Nigeria
Favour Ofili Switches Allegiance to Turkey
Sports
U.S. Bombs Three Iranian Nuclear Sites — Fordow, Natanz, Isfahan | Daily Report Nigeria
U.S. Bombs Three Iranian Nuclear Sites — Fordow, Natanz, Isfahan
News

TOPIC

2023 Elections Abuja Accident AFCON Anambra APC Arrest ASUU ASUU Strike Atiku Abubakar Bandits Bayelsa BBNaija Biafra Boko Haram Bola Ahmed Tinubu Bola Tinubu Breaking News Breaking News Nigeria Burna Boy Burutu CBN Celebrity news Chelsea Coronavirus court covid-19 Crime Daily Report Ng Daily Report Nigeria Daily Sports News Davido Delta Delta state DSS Education EFCC Elections English Premier League EPL Family federal government FG FIFA World Cup Football Fraud Godwin Emefiele Goodluck Jonathan Governor Nyesom Wike Gunmen Health Ifeanyi Okowa Imo INEC Insecurity IPOB IYC JAMB Kaduna Kidnap Labour Party Lagos Lagos State Manchester United Marriage Muhammadu buhari Music NASS NDDC NDLEA Niger Delta Nigeria NLC Nnamdi Kanu NNPC Nollywood Nyesom Wike Olusegun Obasanjo Pastor PDP Peter Obi Police Politicians President Bola Ahmed Tinubu President Muhammadu buhari Professor Yemi Osinbajo Protest Rape Reno Omokri Rivers State Senate Sheriff Oborevwori Social Media Suicide Super Eagles Tinubu Top Stories Twitter Victor Osimhen Zamfara

You Might Also Like

Why Tinubu's Ministers Will Be Sacked After Six Months – Smart Adeyemi | Daily Report Nigeria
News

Why Tinubu’s Ministers Will Be Sacked After Six Months – Smart Adeyemi

June 15, 2025
ASUU Punishes Students Over FG's Half Salary Payment | Daily Report Nigeria
News

ASUU Punishes Students Over FG’s Half Salary Payment

June 13, 2025
Lassa Fever Kills Corps Member In Ogun | Daily Report Nigeria
Metro

Lassa Fever Kills Corps Member In Ogun

February 7, 2025
NNPCL to Hand Over Nigerian Refineries to Private Firms
Business

NNPC Secures $1bn Loan to Boost Dangote Refinery 

June 4, 2025
© Daily Media N Publishing LTD. All Rights Reserved.
  • Home
  • About Us
  • Adverts With Us
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?