CBN boosts Forex market with $210m

CBN boosts SMIS with $297,92m, CNY 21.2
Forex
CBN boosts SMIS with $297,92m, CNY 21.2
Want create site? Find Free WordPress Themes and plugins.

The Central Bank of Nigeria (CBN) has again boosted the inter-bank Foreign Exchange Market with the sum of $210 million.

Figures obtained from the CBN on Tuesday, indicated that authorized dealers in the wholesale segment of the market were offered the sum of $100 million, 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.

The apex bank’s Director, Corporate Communications Department, Mr. Isaac Okorafor, who made the disclosure, stressed that the effort of the bank had continued to stabilize the foreign exchange market. This, he said, had sustained the level of confidence investors and the public had in the Naira.

READ  Lagos, Edo, Kaduna, C/River biggest states’ foreign debtors

It will be recalled that at the last intervention on Friday, June 14, 2019, the Bank injected the sum of $256.4 million and CNY37.4 million into the Retail Secondary Market Intervention Sales (SMIS) segment.

Meanwhile, the Naira on Tuesday, exchanged at an average of N362/$1 in the BDC segment of the market.

Comment With Facebook
Did you find apk for android? You can find new Free Android Games and apps.

You may also like...

0 thoughts on “CBN boosts Forex market with $210m”

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Your email address will not be published.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.

Categories