CBN Injects $210 Million into Forex Market

September 10, 2019
56 Views

ABUJA – The interbank segment of the Foreign Exchange Market has received another boost of $210 million from the Central Bank of Nigeria (CBN) following sales concluded on Tuesday, September 10, 2019.

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

Confirming the figures, the Director, Corporate Communications Department, Mr. Isaac Okorafor reaffirmed the Bank’s commitment towards ensuring stability in foreign exchange market.

It will be recalled that at the last intervention on Friday, September 6, 2019 the Bank injected the sum of $321.11million and CNY33.3million into the Retail Secondary Market Intervention Sales (SMIS) segment.

Meanwhile, the Naira on Tuesday, September 10, 2019, exchanged at an average of N357/$1 in the BDC segment of the market.

You may be interested

News
2 views

Total Covid19 cases pass 30,000 in Nigeria with 684 deaths

admin - July 9, 2020

<!-- Total Covid19 cases pass 30,000 in Nigeria with 684 deaths - ElombahNews HomeCOVID-19Total Covid19 cases pass 30,000 in Nigeria…

Boko Haram Attacks With 9 Gun Trucks, Kills 2 Soldiers
News
1 views
News
1 views

Boko Haram Attacks With 9 Gun Trucks, Kills 2 Soldiers

admin - July 8, 2020

Advertisement The war against insurgency in the north eastern region of Nigeria continues to exhibit resiliency against the efforts of…

Osinbajo didn’t collect N4bn from Magu – Aide
News
1 views
News
1 views

Osinbajo didn’t collect N4bn from Magu – Aide

admin - July 8, 2020

Advertisement The Senior Special Assistant to the Vice President on Media and Publicity, Laolu Akande, on Wednesday said there was…

Leave a Comment

Your email address will not be published.