CBN Injects $210m Into Forex Market

Central Bank of Nigeria (CBN) has injected $210m into

the Foreign Exchange Market (Forex) to meet customers’ requests in

various segments, says acting Director, Corporate

Communications, Mr Isaac Okorafor.

 

In a statement released in Abuja, he said $100m was

allotted to authorised dealers in the wholesale segment of the market,

while the Small and Medium Enterprises (SMEs) segment got

$55m.

 

Okorafor notes that according to the bank’s figures, customers

requesting foreign exchange for invisibles such as tuition fees,

medical payments and Basic Travel Allowance (BTA), among others, are

also allocated 55 million dollars.

 

He recalled that the bank, on Thursday, intervened with 210 million

dollars to cater for requests in the wholesale segment of the Forex

market.

 

Meanwhile, 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.