{"id":38640,"date":"2024-07-12T15:21:58","date_gmt":"2024-07-12T15:21:58","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=38640"},"modified":"2024-07-12T15:21:58","modified_gmt":"2024-07-12T15:21:58","slug":"just-in-cbn-sells-122-67-million-to-46-authorized-dealers","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2024\/07\/12\/just-in-cbn-sells-122-67-million-to-46-authorized-dealers\/","title":{"rendered":"JUST IN: CBN sells $122.67 Million to 46 Authorized Dealers"},"content":{"rendered":"<p>The Central Bank of Nigeria (CBN) has taken a significant step to stabilize the foreign exchange market by selling $122.67 million to 46 authorized dealers.<span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:0,&quot;335551620&quot;:0,&quot;335559738&quot;:240,&quot;335559739&quot;:240,&quot;335559740&quot;:279}\"> This was contained in a statement signed by the Bank\u2019s Director in charge of Financial Markets, Dr. Omolara Duke. <\/span><\/p>\n<p>The statement disclosed that sum of\u00a0 $67,500m was sold to 27 dealers, while the sum \u00a0of US$2.5m was bought by one authorised dealer on July 10, 2024.<\/p>\n<p>The range of the bid for the July 10, 2024 sales was \u20a61,480.0\/US$- \u20a61,500.0\/US$, while the value date for the payments, going by the settlement cycle of two days, is July 12, 2024.<\/p>\n<p>Similarly, on July 11, 2024, the sum of $55,171m was sold to 19\u00a0authorized dealers at \u20a61,540.0\/US$. The value date for the payments of the spot sale is July 15, 2024.<\/p>\n<p>While reiterating that the CBN supplies foreign exchange to the Foreign Exchange market to improve liquidity through FX spot sales to authorised Dealers using two-way quotes.<\/p>\n<p>This move is aimed at promoting market stability and reducing volatility as the exchange rate.<\/p>\n<p>On Thursday, it was reported that there was an increase in Nigeria\u2019s\u00a0external reserves to $35.05bn as of July 8, 2024.<\/p>\n<p>The apex bank urged all authorised dealers, to ensure that foreign exchange purchases from the CBN, are used exclusively for trade-backed transactions, which should be reported within 72 hours.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central Bank of Nigeria (CBN) has taken a significant step to stabilize the foreign exchange market by selling $122.67 million to 46 authorized dealers. This was contained in a statement signed by the Bank\u2019s Director in charge of Financial Markets, Dr. Omolara Duke. The statement disclosed that sum of\u00a0 $67,500m was sold to 27 [&hellip;]<\/p>\n","protected":false},"author":27,"featured_media":38643,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[],"class_list":["post-38640","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/38640","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=38640"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/38640\/revisions"}],"predecessor-version":[{"id":38644,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/38640\/revisions\/38644"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/38643"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=38640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=38640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=38640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}