CBN boosts forex market with $210 million
Connect with us

Business and Banking

CBN boosts forex market with $210 million

Politics Nigeria

Published

on

cbn - CBN boosts forex market with $210 million

Mr Isaac Okorafor, Acting Director, Corporate Communications, Central Bank of Nigeria (CBN) said the apex bank boosted the foreign exchange market with 210 million dollars to meet customers’ requests in various segments.

Okoroafor said this in a statement on Wednesday in Abuja.

According to him, the bank, in its desire to meet customers’ needs, offered 100 million dollars to authorised dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment got 55 million dollars.

Okorafor also said customers needing foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated 55 million dollars.

He recalled that the CBN on thursday, intervened with 343.06 million dollars to cater for requests in the retail segment of the foreign exchange market.

He added that the naira continued its stability in the foreign exchange market, exchanging at an average of N360 per dollar in the Bureau De Change (BDC), segment of the market Wednesday.


Click to comment

Leave a Reply

Your email address will not be published.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


Contact Us

Email: Politicsngr[at]gmail.com

rant 300x250 - CBN boosts forex market with $210 million

Latest Rates

Currency Interbank Rate Parallel Rate
USD ₦307 ₦360
GBP ₦399 ₦467
EUR ₦355 ₦415

Updated on September 12, 2018 at 10:15 am