The Central Bank of Nigeria injects $210 million into interbank foreign exchange market

Google+ Pinterest LinkedIn Tumblr +

The Central Bank of Nigeria (CBN) is reported to have injected a total of $210 million into the interbank foreign exchange market.

The figures, which were obtained from the CBN, reveals that the sum of $100 million was offered to authorised dealers in the wholesale segment of the market while the Small and Medium Enterprises segment received $55 million.

The sum of $55 million was also allocated to customers who need foreign exchange to address tuition fees, medical payments and basic travel allowance.

The Bank’s Director of Corporate Communications Department, Mr. Isaac Okorafor who confirmed the figures, reiterated CBN’s commitment to continue to boost the interbank foreign exchange market to ensure liquidity and sustain stability in the market.

Okorafor said the CBN was pleased with the performance of the Naira because it had continued to enjoy stability against the dollar and other major currencies of the world in recent times.

Share.

About Author

Leave A Reply