CBN introduces $ 327 million, RMB in retail SMIS



The central bank of Nigeria (CBN) yesterday introduced $ 327 million in inter-bank retail sales of the secondary market (SMIS).

This is in addition to selling CNY69million in the spot and shorts ahead.

The figures published by CBN showed that interventions, expressed in US dollars, were caused only by fears in the agricultural and raw materials sectors.

Mr. Isaak Okorafor, Acting Director for Corporate Affairs at CBN, said that the exercises, which were in harmony with the bank's guidelines, were intended to pay for the accreditation of Agriculture and Raw materials accredited to Renmin.


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