Central Bank of Nigeria injects $210m in forex market

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Abuja – The interbank segment of the Nigerian foreign exchange market received a fresh boost of 210 million dollars from the Central Bank of Nigeria (CBN) on Tuesday.

The CBN Director of Corporate Communications Department, Mr. Isaac Okorafor, said this in a statement in Abuja..

CBN
From left, Deputy Governor, Financial System Stability, Central Bank of Nigeria (CBN), Mrs. Aisha Ahmad, Governor of CBN, Mr. Godwin Emefiele, Deputy Governor, Operations Directorate, Mr. Folashodun Shonubi and Deputy Governor, Corporate Services, Mr. Edward Adamu, during the Governor’s briefing on 5th years Policy Trust of Central Bank of Nigeria (CBN), 2019-2024, in Abuja yesterday. Photo by Gbemiga Olamikan

He said the figures released by CBN indicated that authorized dealers in the wholesale segment of the market were again offered the sum of 100 million dollars.

He said that the Small and Medium Enterprises (SMEs) window received the sum of 55 million dollars, while 55 million dollars were allocated to customers requiring foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others.

The director said that the bank was committed to sustaining the level of stability in foreign exchange market.

Forex Intervention: CBN injects $242m, 32.3m CNY into retail market(Opens in a new browser tab)

The News Agency of Nigeria (NAN) reports that the CBN, July 12, injected 298.7 million dollars and CNY39.6 million into the Retail Secondary Market Intervention Sales (SMIS) segment.

The the naira was N360 to the dollar at the Bureau De Change (BDC) segment on Tuesday, (NAN)

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