CBN Boosts Foreign Exchange Market With $210m

The Central Bank of Nigeria (CBN) on Tuesday injected 210 million dollars into the inter-bank Foreign Exchange Market.

The injection of the sum, according to the apex bank, was aimed at meeting customers’ requests in various segments of the market.

Acting Director of Corporate Communications, Isaac Okoroafor, said that 100 million dollars was offered to authorised dealers in the wholesale segment of the market.

In a statement by the bank, Okoroafor said 55 million dollars was allocated to the Small and Medium Enterprises (SMEs) segment while customers who require foreign exchange for tuition fees, medical payments and Basic Travel Allowance (BTA) were allocated 55 million dollars.

He reassured the public that the bank would continue to intervene in the foreign exchange market in line with its quest to sustain liquidity in the market and maintain stability.
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