“In the first half of 2020, the CBN continued with its intervention in the inter-bank foreign exchange market to cushion demand pressures and ensure exchange rate stability. Consequently, a total of $10,308.01 million was sold at the foreign exchange market. This comprised $5,056.55 million at the I & E window, US$1,198.48 million at the inter-bank spot, $570.00 million for SMEs, $312 million for invisibles, while forwards sales were US$3,170.97 million,” the report said.
In the first half of 2019, the bank purchased $$9.6 billion, putting the net balance at $1.08 million. According to the report, the turnover of transactions at the I & E window amounted to $24.69 billion in the first six months of the year compared to $33.21 billion in the corresponding period of 2019.