Naira remains at n385 as cbn pumps in 453 3m #comments
It seems like you're referring to a news article or a financial update. Here's a breakdown of what it might be saying:
- The Nigerian Naira (NGN) has remained stable at a rate of N385 against the US Dollar (USD) despite the Central Bank of Nigeria (CBN) injecting $453 million into the foreign exchange market.
- The CBN's intervention is aimed at maintaining stability in the foreign exchange market and ensuring that the Naira remains strong against other major currencies.
- The injection of $453 million is part of the CBN's efforts to boost liquidity in the market and support the Naira's value.
It's worth noting that the Naira's value can be influenced by a variety of factors, including global economic trends, oil prices, and the country's balance of payments. The CBN's interventions can help to stabilize the market and maintain a stable exchange rate, but they may not always be enough to overcome underlying economic challenges.