Business
THE interbank segment of the Foreign Exchange Market has received a fresh boost of $210 million from the Central Bank of Nigeria
(CBN) following sales concluded on Tuesday, July 16, 2019.
The figures obtained from the CBN indicated that the authorized dealers in the
wholesale segment of the market were again offered the sum of $100 million,
while the Small and Medium Enterprises (SMEs) window received the sum
of $55 million.
The sum of $55 million was equally allocated to customers
requiring foreign exchange for invisibles such as tuition fees, medical
payments and Basic Travel Allowance (BTA), among others.
The Director, Corporate Communications Department at the CBN, Isaac
Okorafor, confirmed the sales, just as he reaffirmed the Bank’s commitment
towards sustaining the level of stability in foreign exchange market.
It will be recalled that at the last intervention on Friday, July 12, 2019, the
Bank injected the sum of $298.7 million and CNY39.6million into the Retail
Secondary Market Intervention Sales (SMIS) segment.
Meanwhile, the rate of exchange between the Naira and the United States
dollars in the BDC segment of the market on Tuesday, July 16, 2019, was
N360/$1.
BE
– July 16, 2019 @ 09:15 GMT |
Tags: CBN Intervenes in Forex market with $210m
