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THE Central Bank of Nigeria has injected $ 285.7m into the Inter-Bank Foreign Exchange Market to meet requests in four sectors of the economy.

This came just the naira closed at 363 per United States dollar on Friday, the same rate it had closed in the past one week.

Details obtained from the CBN indicated that firms in the agricultural, airline, petroleum and raw materials space received various sums of forex allocation based on requests put forward by their respective banks.

The Acting Director, Corporate Communications Department, CBN, Isaac Okorafor, said the releases underlined the high level of transparency at the bank in forex management.

ALSO READ:  CBN Injects Another $100 Million Into Forex Market

According to him, the CBN will continue to play its role in easing the foreign exchange pressure on the manufacturing and agricultural sectors through sales under the new flexible foreign exchange regime.

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The naira is expected to remain stable across the various windows as the currency hit a resistance level for investors, Reuters reports.

©Reuters

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