Follow Us on Google
The Central Bank of Nigeria (CBN), in continuation of its drive to ensure liquidity and stability in the foreign exchange (forex) market, has injected another $195 million into various segments of the inter-bank forex market.
A breakdown of the figures by the CBN yesterday, Monday, shows that $100 million was offered to authorized dealers in the wholesale window, just as the Small and Medium Enterprises (SMEs) window was allocated $50 million. Those seeking forex for the purpose of BTA/PTA, tuition and medical bills, among other invisibles, received $45 million.
The Acting Director, Corporate Communications of the CBN, Isaac Okorafor, who confirmed the figures, said the bank’s continued intervention was aimed at strengthening the international value of the Naira, while ensuring accessibility to the greenback by customers who required it for genuine purposes.
Recall that the CBN in the last round of forex intervention in the inter-bank market on June 28, injected $195 million to the wholesale, SMEs and invisibles segments of the market.
Meanwhile, a survey of markets in the Bureau de Change segment (BDCs) in Lagos, Abuja, Port-Harcourt and Kano, on Monday, July 3, 2017, showed that the naira exchanged at an average of N360/$1 in the BDC segment of the market.
