CBN injects $210M as naira appreciates to N360.64/$

242 Views
The Naira yesterday appreciated by 27 kobo to N360.64 per dollar in the Investors’ and Exporters’ (I&E) window, even as the Central Bank of Nigeria (CBN) injected $210 million into the foreign exchange market. Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele Acting Director, Corporate Communications Department (CCD), CBN, Mr. Isaac Okorafor confirmed the injection saying:
“The CBN offered $100 million to authorized dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment got the sum of $55 million. Customers needing foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated the sum of $55 million.”
Meanwhile, data from the Financial Market Dealers Quote (FMDQ) showed that the indicative exchange rate for the I&E window dropped to N360.64 per dollar, yesterday, from N360.91 per dollar recorded on Monday, indicating a 27 kobo naira appreciation.
This appreciation was prompted by a marginal 6 percent increase in the volume of dollars traded in the window.
The window recorded turnover of $187.11 million, up from $175.41 million recorded on Monday.
Vanguard investigation showed that naira yesterday has remained stable at N362 per dollar for two consecutive weeks.

SOURCE: VANGUARD

GTI

GTI is a leading Nigerian Investment Banking group with proven expertise in Financial advisory, Securities Dealing (Fixed Income and Equities), Asset management and Deal Origination. We have strong capacity in financial service delivery.

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *