Posted on Wed 8 Nov 2017, 10:44 AM

The Central Bank of Nigeria has intervened in the inter-bank foreign exchange market with the injection of another $195m.

Figures released by the bank on Tuesday showed that it offered the total sum of $100m to the wholesale segment, while the Small and Medium-scale Enterprises segment received the sum of $50m.

The invisibles segment comprising tuition, medical payments and basic travel allowance received $45m.

The bank’s acting Director, Corporate Communications, Mr. Isaac Okorafor, confirmed the figures, noting that the intervention was in line with the CBN’s commitment to continue to ensure forex liquidity and meet legitimate demand.

Okorafor maintained that the CBN would continue to intervene in the nation’s forex market in order to sustain the liquidity in the market and guarantee the international value of the naira.

Meanwhile, the naira closed at 360/$1 in the BDC segment of the market on Tuesday. It, however, closed at 363/dollar at the parallel market.

 

Comments

Let's be watching, still longing for the time dollar will come down very well if it will ever.

Add new comment

Filtered HTML

  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <a> <em> <strong> <cite> <blockquote> <code> <ul> <ol> <li> <dl> <dt> <dd>
  • Lines and paragraphs break automatically.

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
By submitting this form, you accept the Mollom privacy policy.
Get the Latest News updates from Homeland New. Read more
Phone: +234 818 217 4858
Email: info@homelandnewsng.com

Newsletter

Subscribe to our Newsletter to get latest updates!

Connect With Us