The CBN said the FX spot sales was to reduce observed market volatility driven by high demand for commodity importation and seasonal demand for FX.
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In a statement on Friday, signed by the Director of the Financial Markets Department, Omolara Duke, the CBN said the FX spot sales was to reduce observed market volatility driven by high demand for commodity importation and seasonal demand for FX. “The FX spot sales was to reduce observed market volatility driven by high demand for commodity importation and seasonal demand for FX. The value dates for all the transactions were T+2,” the statement said.
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