Economy

CBN injects $210m in forex market

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The interbank segment of the Nigerian foreign exchange market received a fresh boost of 210 million dollars from the Central Bank of Nigeria (CBN) on Tuesday.

The CBN Director of Corporate Communications Department, Mr. Isaac Okorafor, said this in a statement in Abuja..

He said the figures released by CBN indicated that authorized dealers in the wholesale segment of the market were again offered the sum of 100 million dollars.

He said that the Small and Medium Enterprises (SMEs) window received the sum of 55 million dollars, while 55 million dollars were allocated to customers requiring foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others.

The director said that the bank was  committed to sustaining the level of stability in foreign exchange market.

The News Agency of Nigeria reports that the CBN, July 12, injected 298.7 million dollars and CNY39.6 million into the Retail Secondary Market Intervention Sales (SMIS) segment.

The the naira was N360 to the dollar at the Bureau De Change (BDC) segment on  Tuesday,

Edited by Tajudeen Atitebi

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Mustapha Sumaila

Mustapha Sumaila: NNN is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. We are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and we strive diligently to ascertain the truth in every news report. Contact: editor @ nnn.ng. Disclaimer.

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