CBN Stengthens Forex Market With $210m
By Ossom Raphel
Abuja – As part of its weekly intervention to meet customers requests, the Central Bank of Nigeria has injected the sum of $210 million into different segments of the inter-bank foreign exchange market.
According to figures released by the apex Bank on Tuesday, authorized dealers in the wholesale segment received the sum of $100 million, while $55 million was allocated to the Small and Medium Enterprises (SMEs).
Also, the invisibles segments, which comprises of customers requiring forex for tuition fees, medical payments and Basic Travel Allowance (BTA) amongst others, got $55 million.
The CBN Director, Corporate Communications, Isaac Okorafor, reiterated that the Bank’s continued intervention in the inter-bank sector was aimed mainly at ensuring adequate liquidity in the market, even as he noted that there was not much pressure on the naira.
Meanwhile, the naira maintained its steady rate against major currencies around the globe, exchanging for N361/$1 in the Bureau De Change segment of the market on Tuesday.