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Again, CBN injects $210m into Forex Market

In what critics refer to as unnatural, the Central Bank of Nigeria (CBN) has injected another sum of 210 million dollars into the inter-bank Foreign Exchange Market to boost liquidity in the sector.

Authorised dealers in the wholesale segment of the market received the sum of 100 million dollars, while the Small and Medium Enterprises segment received the sum of 55 million dollars.

The apex bank had earlie on Friday, injected the sum of 218.41 million dollars and CNY18 million into the Retail Secondary Market Intervention Sales segment.

Meanwhile, the Naira on Tuesday, remained stable, as N358 was exchanged for a dollar in the Bureau de Change segment of the market

He said customers who were seeking foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance, among others, were allocated a total of 55 million dollars.

About Younews Ng

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