CBN injects $210m into forex market


In continuation of its periodic intervention in the foreign exchange market, the Central Bank of Nigeria (CBN) has injected another sum of $210 million into the inter-bank foreign exchange market.

The figures released by the CBN  yesterday 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.

The Director, Corporate Communications Department at the CBN, Mr. Isaac Okorafor, who confirmed the figures  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 $289.76 million into retail Secondary Market Intervention Sales (SMIS) and CNY38.70 million 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 to a dollar  in the Bureau De Change (BDC) segment of the market.

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