The Central Bank of Nigeria (CBN) has injected $210 million into the various segments of the foreign exchange market to sustain its intervention in the Inter-Bank Market.
CBN Director of Corporate Communications, Mr Isaac Okorafor, made this known in Abuja where he said that the apex bank offered $100 million as wholesale interventions and allocated $55 million to Small and Medium Enterprises.
Okorafor said that another $55 million was allocated to customers requiring foreign exchange for business and personal travels, tuition or medical fees.
The director explained that the interventions was in continuation of the bank’s resolve to sustain the high level of stability in the foreign exchange market.
According to him, it is also to continue to ease access to the currency by customers in different sectors.
He lauded the actors in various sectors of the market for the level of stability, in spite of the activities of speculators.
Okorafor said that CBN was ready to play its interventionist role in the market.
The CBN, in its last interventions earlier in December, injected $299.82 million and 143.60 million Chinese Yuan into the Retail Secondary Market Intervention Sales.
Meanwhile, one United States Dollar exchanged for N360 in the Bureau De Change (BDC) segment of the market on Thursday in Abuja.