The Central Bank of Nigeria says Nigeria recorded over $1.5 billion inflow into the economy in the past few days.
Sidi Ali, the acting Director of Corporate Communications, disclosed this in a statement on Friday.
According to her, the increase in inflow showed that CBN’s monetary policies are yielding results.
She noted that data available to the bank indicated that the inflow resulted from the bank’s effort to stabilise the foreign exchange market.
Ali said the naira has also continued to record gains in the Autonomous Foreign Exchange market, trading at N1,309 per US dollar against N1,611/$1 in the second week of March 2024.
Recently, the CBN held its 294th Monetary Policy Committee meeting, where it decided to increase the interest rate by 200 points to 24.75 per cent from the previous 22.75 per cent to tackle rising inflation.
