Barbara Bako, Abuja.
The Central Bank of Nigeria (CBN) has injected the sum of $210 million into the inter-bank Foreign Exchange Market. The Apex Bank’s Director, Corporate Communications Department, Mr. Isaac Okorafor said this in a statement on Tuesday in Abuja. He reiterated the CBN’s commitment to continue to boost interbank foreign exchange market to ensure liquidity in the market.
Figures obtained from the CBN 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.
It will be recalled that on Friday, February 22, 2019, the Bank injected the sum of $268.4 million and CNY46.3 million into the Retail Secondary Market Intervention Sales (SMIS) segment. Meanwhile, the Naira on Tuesday, February 26, 2019 exchanged at an average of N360/$1 in the BDC segment of the market.
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