– The Sun News
CBN

CBN buoys forex market with $210m

The Central Bank of Nigeria (CBN), in its quest to guarantee availability of forex for customers’ needs in various segments of the market, has injected another sum of $210 million into the inter-bank Foreign Exchange Market. 

Figures obtained from the bank yesterday indicate that the CBN offered $100 million to authorised dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment received the sum of $55 million. Customers requiring foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated the sum of $55 million.

The bank’s Acting Director, Corporate Communications Department (CCD), Mr. Isaac Okorafor, confirmed the figures and 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. He added that the steps taken so far by the bank in the management of forex was paying off, as reflected by reduction in the country’s import bills and accretion to its foreign reserves, which stood at $46 billion as at Friday, March 9, 2018.

Share

About author

Leave a reply

Your email address will not be published.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

Archive

August 2018
S M T W T F S
« Jul    
 1234
567891011
12131415161718
19202122232425
262728293031  

Enquiries

Take advantage of our impressive statistics, advertise your brands and products on this site. Get in touch. For print/online adverts inquires: 09070051404

EDITOR

Online Editor: Aderonke Bello
Telephone: 08189015120
Email:  [email protected]

Share