Connect with us


CBN injects $210m into Forex market



CBN injects $210m into Forex market
Central Bank of Nigeria (CBN) has injected 210 million dollars into the foreign exchange market (Forex) to meet customers’ requests in various segments, Mr Isaac Okorafor, acting Director, Corporate Communications says.

In a statement on Tuesday in Abuja, he said 100 million dollars was allotted to authorised dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment got 55 million dollars.

Okorafor notes that according to the bank’s figures, customers requesting foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, are
also allocated 55 million dollars.

He recalled that the bank, on Thursday, intervened with 210 million dollars to cater for requests in the wholesale segment of the Forex market.

Meanwhile, the Naira continued its stability in the foreign exchange market, exchanging at an average of N360 per dollar in the Bureau De Change (BDC) segment of the market.

Facebook Comments Box
CBN injects $210m into Forex market

Copyright 2022 ROYAL NEWS. All rights reserved. Digital material on this website, may not be published, reproduced, broadcast, rewritten or redistributed in whole or in part without prior express written permission from ROYAL NEWS.


Download ROYAL NEWS app

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *