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
Interswitch Strengthens Kenya Fintech Business with New Managing Director
Interswitch has appointed Geoffrey Njuguna as the new Managing Director for its Kenya operations, reinforcing the company’s leadership as it accelerates…
By
Madrid Becomes Black & White Engineering’s New Gateway to Southern Europe
Black & White Engineering has expanded its European operations with the opening of a new office in Madrid, Spain,…
Dangote Expands Refining Capacity with New Kenya Project
Dangote Industries’ proposed KSh2.2 trillion East African oil refinery has taken another major step toward implementation after the Kenyan government…
Safaricom CEO appointment Now Subject to New Governance reforms
Safaricom shareholders are set to vote on a series of proposed governance reforms that could significantly expand Vodafone Kenya…
Gallery
