The Central Bank of Nigeria (CBN) sold $151 million to eligible deposit money banks on Thursday as the naira traded at N1,328.2154 per US dollar at the Nigerian Foreign Exchange Market (NFEM).
The official rate moved from N1,329.2129/$ in the previous session, giving the naira a N0.9975 gain against the dollar.
According to CBN data, interbank turnover reached $357.296 million during the session, marking a sharp increase in activity among financial institutions.
Turnover climbed 278% from the previous session, while the number of interbank deals rose from 86 to 234.
Transactions at the NFEM window ranged from N1,322.7100 to N1,333 per dollar, leaving a N10.29 difference between the lowest and highest rates recorded.
The CBN supplied the dollars after the naira came under pressure during the session, giving eligible banks additional foreign exchange for their transactions.
The increase in deal numbers added to the higher interbank turnover recorded on Thursday, with 148 more transactions than the previous session.
Nigeria’s external reserves stood at $54.341 billion, according to figures contained in the report, as the CBN continued its foreign exchange operations.
The official NFEM rate closed at N1,328.2154/$ after transactions took place across the reported range.
Thursday’s session recorded 234 interbank deals, while the market closed with the naira at N1,328.2154/$.
