CBN Boosts Forex Market with $210m
The Central Bank of Nigeria (CBN) has again injected the sum of $210 million into the inter-bank Foreign Exchange Market in continuation of its sustenance of liquidity in that segment of the market.
Figures obtained from the CBN recently, indicated that authorized dealers in the wholesale segment of the market were offered the sum of $100million, while the Small and Medium Enterprises (SMEs) segment received the sum of $55 million. Similarly, 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.
A statement by the Bank’s Spokesman, Mr. Isaac Okorafor reiterated the CBN’s commitment to continue to boost interbank foreign exchange market to ensure liquidity and stability in the market.
It will be recalled recently that, the Bank injected the sum of $247.8million and CNY34.8million into the Retail Secondary Market Intervention Sales (SMIS) segment.
Related Posts
Khayyam Jumani becomes Managing Director of J.P. Morgan Private Bank
Khayyam Jumani has stepped into the role of Managing Director at J.P. Morgan Private Bank, bringing with him…
ByLiquid Intelligent completes $855m refinancing and recapitalization
Liquid Intelligent Technologies has completed an $855 million recapitalisation and debt refinancing, supported by a $195 million equity…
IHS Nigeria, NCMM to renovate national Museum Lagos
IHS Nigeria, a subsidiary of IHS Holding Limited (NYSE: IHS) and one of the world’s largest independent tower…
Lagos Games Week returns to drive Nigeria’s stake in $200bn global industry
Lagos Games Week returns to the iconic National Theatre on 18–19 June with a clear ambition to position…
Gallery
