IN ANOTHER round of intervention, Central Bank of Nigeria, CBN, on Friday, October 19,  injected over $337 million in the inter- Bank forex market.

The CBN intervened in the Retail Secondary Market Sales, SMIS, to the tune of $337,333,646.85, in addition to the sum of CNY53,444,222.38 million in the spot and short tenored forwards of the inter-bank foreign exchange market.

While confirming the figures, Isaac Okorafor, bank’s director in charge of Corporate Communications Department,  reiterated that the move was in furtherance of the Bank’s commitment to ensuring adequate liquidity and stability in the inter-bank foreign exchange market.

It will be recalled that the Bank had on Tuesday, October 16, injected the sum of $210 million in  the inter-bank foreign exchange market.

Meanwhile, the naira maintained its steady rate against major currencies around the globe, exchanging for N362/$1 in the BDC segment of the market on Friday, October 19.

– Oct. 20, 2018 @ 5:07 GMT |