Categories: Business and Banking

CBN boosts foreign exchange market with $210m

The Central Bank of Nigeria (CBN) says it has injected 210 million dollars into the inter-bank Foreign Exchange Market to meet customer’s request in various segments of the market.

The CBN Director, Corporate Communications, Mr Isaac Okorafor, said in a statement in Abuja on Tuesday that 100 million dollars was offered to authorised dealers in the wholesale segment of the market.

He said the Small and Medium Enterprises segment was boosted with 55 million dollars, adding that those requiring foreign exchange for tuition fees, medical payments and Basic Travel Allowance among others, received 55 million dollars.

Okorafor reassured the public that the bank would continue to intervene in the interbank Foreign Exchange Market, in line with its desire to sustain liquidity in the market and maintain stability.

On Aug. 28, the Bank injected another 210 million dollars to cater for requests in the wholesale segment of the foreign exchange market.

Meanwhile, the naira continued its stability in the Foreign Exchange Market, exchanging at an average of N361 to a dollar in the Bureau De Change segment of the market in Abuja.

CBN boosts foreign exchange market with $210m was last modified: September 5th, 2018 by Francis Belux
Francis Belux

Share
Published by
Francis Belux
Tags: cbn

Recent Posts

FG determined to transform NIPOST into world best – Minister

The Minister of Communication, Mr Adebayo Shittu, says the Federal Government is determined to transform Nigeria’s postal sector into one…

26 mins ago

Two robbery suspects in police net in Kogi

Kogi State Police Command said it had arrested two robbery suspects in Ganaja area of Lokoja, the state capital. The…

29 mins ago

2019: Senate C’ttee visits INEC in Lagos

The Independent National Electoral Commission (INEC), Lagos State on Wednesday hosted the Senate Committee on INEC in continuation of the…

30 mins ago

Crises: NYSC reopens Kaduna Orientation Camp

The National Youth Service Corps (NYSC) says it will re-open its Orientation Camp in Kaduna State on Nov. 15, following…

3 hours ago

NITDA calls for contributions to ICT innovation, entrepreneurship vision

The National Information Technology Development Agency (NITDA) has called for contributions from Information Technology (IT) stakeholders to develop a document…

3 hours ago

Vote buying syndrome, inimical to Nigeria’s democracy–flag bearer

Alhaji Fahad Ahmed-Chikaji, candidate contesting the seat in Kaduna State House of Assembly for Sabongari, has cautioned Nigerians against vote…

3 hours ago