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…injects $210m into forex market

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…injects $210m into forex market

The Central Bank of Nigeria (CBN) has injected another $210 million into the interbank segment of the Foreign Exchange Market.
Figures obtained from the apex bank indicated that on Tuesday, authorized dealers in the wholesale segment of the market were offered the sum of $100million, while the Small and Medium Enterprises (SMEs) segment received the sum of $55 million. The sum of $55 million was allocated to customers requiring foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others.
Confirming the figures, the Director, Corporate Communications Department, Mr. Isaac Okorafor reaffirmed the Bank’s commitment towards ensuring stability in foreign exchange market.
It will be recalled that at the last intervention on Friday, June 7, 2019, the Bank injected the sum of $294.7million and CNY31.4million into the Retail Secondary Market Intervention Sales (SMIS) segment.
Meanwhile, the Naira on Tuesday, exchanged at an average of N360/$1 in the Breaux De Change (BDC) segment of the market.

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