Connect with us

CBN Injects $210m into forex market

 

 

News

CBN Injects $210m into forex market

CBN Governor, Godwin Emefiele
CBN Governor, Godwin Emefiele

By Mustapha Sumaila

The Central Bank of Nigeria (CBN) has injected 210 million U.S. dollars into interbank segment of the Foreign Exchange Market following sales concluded on Tuesday.

The bank’s Director, Corporate Communications Department, Mr Isaac Okorafor, made this known in a statement in Abuja on Tuesday.

Okorafor explained that the figures released by the CBN indicated that authorised dealers in the wholesale segment of the market were offered 100 million dollars while the Small and Medium Enterprises (SMEs) segment received 55 million dollars.

He said that another 55 million dollars was allocated to customers requiring foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others.

The director reaffirmed the bank’s commitment towards ensuring stability in foreign exchange market.

News Agency of Nigeria (NAN) reports that CBN had on Friday, Sept. 6, injected 321.11 million U.S. dollars and CNY33.3 million into the Retail Secondary Market Intervention Sales (SMIS) segment.

Meanwhile, N357 exchanged for a dollar at the Bureau De Change (BDC) segment of the market on Tuesday.



Source link

Click to comment

Leave a Reply

Your email address will not be published.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

This site uses Akismet to reduce spam. Learn how your comment data is processed.

More in News

Trending Posts

Like Our Facebook Page

Disclaimer

FirstPost.ng do not claim ownership of any of the contents that we upload and any copyright infringement complaints will be executed immediately!

It is our policy to honor all take-down requests!

If You Feel Your Rights Are Being Infringed Upon, Send mail us: admin@firstpost.ng

To Top
Social Media Auto Publish Powered By : XYZScripts.com