CBN’s $15.3bn intervention fails to tame exchange rate, scarcity hits apex bank

To stabilise the exchange rate in the official market, over $15.3 billion was disbursed into the economy by the Central Bank of Nigeria (CBN) in 2022.

According to the monthly and quarterly economic reports by the central bank, the $15.3 billion was injected between the first quarter and first month of the fourth quarter of last year.

It was noted that the scarcity of foreign exchange extended into 2023, as the disbursement from the central bank dropped quarterly.

RipplesNigeria : Read More