CBN boosts forex market with $210 million.
The Central Bank of Nigeria (CBN) has boosted the foreign exchange market with $210 million to meet customers’ requests in various segments, Isaac Okorafor, Acting Director, Corporate Communications, said.
Mr Okoroafor said this in a statement on Wednesday in Abuja.
According to him, the bank, in its desire to meet customers’ needs, offered $100 million to authorised dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment got $55 million.
Mr Okorafor also said customers needing foreign exchange for ‘invisibles’ such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated $55 million.
He recalled that the CBN on Thursday, intervened with $343.06 million to cater for requests in the retail segment of the foreign exchange market.
He added that 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 Wednesday.
Source : IWN Online Editor
You might be interested in:
LEAVE A COMMENT 0 comments
Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted.Comments must be concise and to be point.The moderator will not enter into debate with individual contributor and the moderator's decision is final.The comment facility will be removed after 48 hours.