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 intervened in the interbank segment of the Foreign Exchange Market with a fresh boost of $210 million.

Figures obtained from the CBN indicated that authorized dealers in the wholesale segment of the market were again offered the sum of $100million, while the Small and Medium Enterprises (SMEs) window received the sum of $55 million.

The sum of $55 million was equally allocated to customers requiring foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others.

The CBN Director, Corporate Communications Department, Mr. Isaac Okorafor, confirmed the sales, just as he reaffirmed the Bank’s commitment towards sustaining the level of stability in the foreign exchange market.

READ  CBN sets aside N220bn as Enterprises Development Fund

It will be recalled that at the last intervention on Friday, July 12, 2019, the Bank injected the sum of $298.7million and CNY39.6million into the Retail Secondary Market Intervention Sales (SMIS) segment.

Meanwhile, the rate of exchange between the Naira and the United States dollars in the BDC segment of the market on Tuesday, July 16, 2019, was N360/$1.

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Your email address will not be published.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