Business

CBN boosts forex market with $205 million

African Finance ministers, Central Bank governors meet in Abuja on Monday

 

The Central Bank of Nigeria (CBN) has boosted the interbank segment of the Foreign Exchange Market with $205 million following the sales concluded on Tuesday.

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 $50 million was allocated to customers requiring foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others.

The Director, Corporate Communications Department, Central bank of Nigeria, Mr. Isaac Okorafor, who confirmed the transactions, disclosed that the effort of the bank had helped to stem fluctuations in the exchange rate. This, he said, had increased the level of confidence investors and the public had in the Naira.

It will be recalled that on Friday, May 3, the Bank injected the sum of $271.8million and CNY41.1million into the Retail Secondary Market Intervention Sales (SMIS) segment.

Meanwhile, the Naira on Tuesday, exchanged at an average of N361/$1 in the BDC segment of the market.

Comment With Facebook

Comments (219)

  1. canadien cialis
    http://cialisxtl.com/ generic cialis available

  2. It is perfect time to make some plans for the future and it’s time to be happy. I have read this post and if I could I wish to suggest you few interesting things or advice. Maybe you could write next articles referring to this article. I desire to read more things about it!|

  3. Thank you for every other informative website. The place else may just I get that type of info written in such a perfect way? I have a project that I am simply now running on, and I have been on the look out for such information.|

  4. Hi there, i read your blog occasionally and i own a similar one and i was just curious if you get a lot of spam remarks? If so how do you prevent it, any plugin or anything you can recommend? I get so much lately it’s driving me mad so any support is very much appreciated.|

  5. At this moment I am going to do my breakfast, afterward having my breakfast coming over again to read more news.|

  6. Link exchange is nothing else except it is simply placing the other person’s webpage link on your page at suitable place and other person will also do same for you.|

  7. Its like you read my mind! You appear to know a lot about this, like you wrote the book in it or something. I think that you could do with a few pics to drive the message home a little bit, but other than that, this is magnificent blog. A fantastic read. I will certainly be back.|

  8. This post is invaluable. How can I find out more?|

  9. viagra prices https://sildenafilprof.com
    buy cialis online europe

  10. Basil Gonzales is title people use to call him and he totally digs that phone. I am really fond of to jog and I will be starting something else along on it. My family lives in Puerto Rico and my parents live lieu. Data processing has been my profession for a bit. See what’s new modest website here: #link#

  11. Hi there, after reading this awesome article i am too cheerful to share my knowledge here with friends.|

  12. how long does viagra last https://sildenafilprof.com
    cialis 5 mg

  13. I am really enjoying the theme/design of your blog. Do you ever run into any browser compatibility problems? A number of my blog visitors have complained about my website not operating correctly in Explorer but looks great in Chrome. Do you have any tips to help fix this issue?|

  14. I was curious if you ever thought of changing the page layout of your site? Its very well written; I love what youve got to say. But maybe you could a little more in the way of content so people could connect with it better. Youve got an awful lot of text for only having 1 or two pictures. Maybe you could space it out better?|

  15. After study a few of the blog posts on your website now, and I truly like your way of blogging. I bookmarked it to my bookmark website list and will be checking back soon. Pls check out my web site as well and let me know what you think.

  16. Good day! I could have sworn I’ve been to this web site before but after browsing through many of the articles I realized it’s new to me. Nonetheless, I’m certainly pleased I discovered it and I’ll be book-marking it and checking back regularly!|

  17. It’s an awesome post in favor of all the internet users; they will obtain advantage from it I am sure.|

  18. online cialis cialis tolerance

Comment here