Forex: CBN injects $210m into Inter-bank Market

Wed, Jan 30, 2019 | By publisher


Business

IN continuation of its periodic intervention in the foreign exchange, Forex, market, the Central Bank of Nigeria, CBN, on Tuesday, January 29, 2019, injected another sum of $210 million into the inter-bank foreign exchange market.

Figures released by the CBN on Tuesday indicated that authorised dealers in the wholesale segment of the market received the sum of $100million, while the Small and Medium Enterprises, SMEs, and the invisibles segments were allocated the sum of $55 million each.

Isaac Okorafor, the director, Corporate Communications Department at the CBN, confirmed the figures and restated the Bank’s resolve to always meet the request of genuine customers in the various segments of the market.

It will be recalled that on Friday, January 25, 2019, the Bank injected a total sum of $289.76million into retail Secondary Market Intervention Sales, SMIS, and CNY38.70million in the spot and short-tenored forwards of the inter-bank foreign exchange market.

Meanwhile, the naira on Tuesday, January 29, 2019 continued to exchange at an average of N360/$1 in the Bureau De Change, BDC, segment of the market.

– Jan. 30, 2019 @ 14:57 GMT |

Tags:


Nigeria Customs dissolves joint border patrol team

THE Nigeria Customs Service (NCS) has announced the dissolution of its Joint Border Patrol Team (JBPT). The National Public Relations...

Read More
Nigeria can earn N1trn monthly from moringa farming—Association

THE Moringa Production, Marketers and Farmers Welfare and Empowerment Association says its partnership with the Federal Government can generate N1trillion...

Read More
Avoid rickety boats, drunk operators,  NIWA warns Nigerians

…Oyebamiji advocates passage Of Coast Guards Bill IN furtherance of its efforts to ensure safety on Nigeria’s waterways,  the National...

Read More