Forex: CBN intervenes again with $210m

The Central Bank of Nigeria (CBN) has again intervened in the inter-bank Foreign Exchange market to the tune of $210 million.
According to the figures obtained from the Apex Bank yesterday, $100 million was offered to authorized dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment received the sum of $55 million.
Customers requiring foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated the sum of $55 million.
The Director, Corporate Communications Department of the bank, Mr.
Isaac Okorafor, who confirming the figures, said it will continue to intervene in the country’s interbank foreign exchange market.
Mr. Okorafor assured that the apex Bank will continue to ensure liquidity in the market and sustain the stability in the market.
It will be recalled that last Tuesday, CBN injected the total sum of $303.91 million and CHY46.58 million into the spot and short tenored forwards of the inter-bank foreign exchange market with.
Also, the Naira exchanged at an average of N361/$1 in the BDC segment of the market.