CBN, banks sell $9.9bn as naira tumbles to N1,670/$

CBN, banks sell $9.9bn as naira tumbles to N1,670/$ …C0NTINUE READING HERE >>>

The Nigerian Autonomous Foreign Exchange Market increased to N15.74tn ($9.90bn) in August 2024, an FMDQ report has stated.

This came as the Central Bank of Nigeria revealed that foreign inflow into the country increased to $585m in the same month.

Also, at the official market on Tuesday, the value of the naira dropped to N1,658 against the United States dollar from the N1,659 it sold on Monday while black market sellers sold at the rate of N1,670.

The CBN said the impressive…

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