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Central Bank Of Nigeria Injects $210 Million Into Forex Market

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The Central Bank of Nigeria says it has injected $210 million into the interbank segment of the foreign exchange market.

A CBN spokesperson, Isaac Okorafor, said in a statement on Tuesday.

According to him, the figures released by the apex bank indicated that authorized dealers in the wholesale segment of the market were offered $100 million while the small and medium enterprises segment received $55 million.

Okoroafor added that another $55 million was allocated to customers requiring foreign exchange for invisibles such as tuitions, medical bills and basic travel allowance (BTA), among others.

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He said the bank’s commitment towards ensuring stability in the foreign exchange market would be maintained.

The central bank on September 6, injected $321.11 million and  ¥33.3 million into the retail secondary market intervention sales (SMIS) segment.

Meanwhile, N357 exchanged for a dollar at the bureau de change on Tuesday.

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SaharaReporters, New York

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