Inter-bank forex market gets $210m boost from CBN


In continuation of its mediation in the inter-bank foreign exchange market, the Central Bank of Nigeria on Wednesday, injected $210m to sustain liquidity in the segment of the market.

According to figures by the CBN on Wednesday, authorised dealers in the wholesale segment of the market, as in previous deals, were offered $100m, while those in the Small and Medium Enterprises segment got a boost of $55m.

Customers purchasing foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance, among others, were also allotted a total of $55m.

The Director, Corporate Communications Department, CBN, Mr Isaac Okorafor, reiterated that the CBN would continue to ensure the availability of foreign exchange in order to ensure continued stability in the markets.

In its last intervention on Thursday, the bank injected $254.8m and CNY34.8m into the Retail Secondary Market Intervention sales segment.

Source: PUNCH.  

You may also like...

Leave a Reply

Your email address will not be published.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