Nigeria's No.1 Business and Wealth Creation Forum:
Wealth Creation Resources | Make Money Online Discussions | Business Opportunities, Tips and Resources | Jobs/Vacancies and Much More!

Hello There, Guest! Login Register

Nigeria's No.1 Business and Wealth Creation Forum:
Wealth Creation Resources | Make Money Online Discussions | Business Opportunities, Tips and Resources | Jobs/Vacancies and Much More!

You are currently viewing this forum as a guest. Log in or Register Now! to gain full basic member access privileges.

Connect With Us On Social Media: FaceBook | Twitter | Instagram | Google Plus | Youtube | WhatsApp

Click here for Latest Jobs and Vacancies.


CBN Pumps $210m Into FOREX Market
#1
commy :
The Central Bank of Nigeria (CBN), on Monday, March 19, injected 210 million dollars into the inter-bank Foreign Exchange Market, in its bid to sustain liquidity in the foreign exchange market.

The acting director, corporate communications department, Isaac Okoroafor in a statement said that the move would ensure the continuous availability of foreign exchange to customers.

Giving a breakdown, Okoroafor said that the bank offered 100 million dollars to authorised dealers in the wholesale segment of the market, while the Small and Medium Enterprises segment received 55 million dollars. He said also that customers requiring foreign exchange for invisibles such as
tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated 55 million dollars.

Okoroafor reassured the public that the bank would continue to intervene in the interbank foreign exchange market in line with its desire to sustain liquidity in the market and maintain stability.

He also said that the steps taken so far by the apex bank in the management of foreign exchange was paying off, as reflected by reduction in the country’s import bills and accretion to its foreign reserves. It will be recalled that the CBN had recently injected 210 million dollars into the Wholesale segment of the foreign exchange market.

Meanwhile, the naira continued its stability in the foreign exchange market, exchanging at an average of N360 to a dollar in the Bureau de Change segmentof the market.

https://t.guardian.ng/news/cbn-sustains-...0-million/
Reply


Possibly Related Threads...
Thread Views
  CBN Intervenes In Forex Market With $210m 69
  Naira Weakens At Forex Market As Foreign Reserves Drop To $43b 70
  Again, CBN Boosts FX Market Liquidity With $210M 116