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Home Economy Forex: CBN Boosts Market with $210mn
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Forex: CBN Boosts Market with $210mn

By
Prnigeria
-
October 3, 2018
Godwin Emefiele CBN Governor
Godwin Emefiele CBN Governor

Forex: CBN Boosts Market with $210mn

The Central Bank of Nigeria (CBN) has again injected the sum of $210 million into the inter-bank Foreign Exchange Market.

Read Also:

  • IG Deploys FPRO Adejobi to Delta State Command
  • Tinubu Orders Mandatory Health Insurance Implementation Across MDAs
  • Nigeria Records 775 Terrorism Convictions in Eight Phases of Trials – Gen. Laka

Figures obtained from the CBN on Wednesday, October 3, 2018, indicate 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.

While confirming the figures, the Bank’s Director, Corporate Communications Department, Mr. Isaac Okorafor reiterated the CBN’s commitment to continue to boost interbank foreign exchange market to ensure liquidity in the market and sustain stability in the market.

It will be recalled that on Friday, September 28, 2018, the Bank injected the sum of $210million into the inter-bank foreign exchange market.

Meanwhile, the Naira on Wednesday, October 3, 2018 exchanged at an average of N361/$1 in the BDC segment of the market.

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IG Deploys FPRO Adejobi to Delta State CommandTinubu Orders Mandatory Health Insurance Implementation Across MDAsNigeria Records 775 Terrorism Convictions in Eight Phases of Trials - Gen. LakaCustoms Generates N3.7trn in H1 2025 as FG Targets Enhanced Private Sector GrowthHer Child Nearly Died Because She Skipped a Vaccine By Hafsat IbrahimNigeria Needs Peace Education, Community Investment to Tackle Extremism – PAVE Network New Education Curriculum: Full List of JSS, SS SubjectsSecurity Forces Destroy IPOB/ESN Camp in Anambra Intelligence-led OperationDSS Arraigns 9 Suspects over Benue, Plateau KillingsAnambra Police Foil Lynching of Murder Suspect, Launch Full InvestigationFG Reaffirms Non-Interference in ICPC, EFCC OperationsEl-Rufai and the Politics of Shifting Loyalties, by Kabir AkintayoCourt Voids Military’s 15-Year Mandatory Service Rule Before ResignationsNCTC Urges Forensic and Non-Military Strategies in Regional Fight Against TerrorismTroops Eliminate Bandits, Recover Rustled Cattle in Kaduna
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