Current Time: November 23, 2017 23:26:16pm Last Update: November 23, 2017 16:23:59pm
Home|Forum|Conferences|Concepts|Research|TrueColour|Business Developemnt         
iWitness | Register | Login | Subscribe         

Business > Money Market
Forex: CBN boosts forex supply with $195m
Addthis Facebook Twitter LinkedIn Gmail
By Staff Reporter
November 7, 2017 12:48:04pm GMT      |      Views: 439

WorldStage Newsonline-- The Central Bank of Nigeria has intervened in the inter-bank  Foreign Exchange Market with the injection of another $195 million.

Figures released by the Bank on Tuesday, November 7, 2017, showed that it offered the total sum of $100million to the Wholesale segment, while the Small and Medium Enterprises (SMEs) segment received the sum of $50 million. The invisibles segment comprising tuition, medical payments and Basic Travel Allowance (BTA) received $45 million.

The Bank’s Acting Director, Corporate Communications Department, Mr. Isaac Okorafor confirmed the figures, noting that the intervention was in line with the CBN’s commitment to continue to ensure FOREX liquidity and meet legitimate demand.

Mr. Okorafor maintained that the CBN will continue to intervene in the nation’s FOREX Market in order to sustain the liquidity in the market and guarantee the international value of the Naira.

Meanwhile, the Naira is still exchanging at an average of N360/$1 in the BDC segment of the market on Tuesday, November 7, 2017, maintaining its stability in the FOREX market.

Addthis Facebook Twitter LinkedIn Gmail

Share |


Related News
- November 20, 2017 15:03:37pm GMT

- November 16, 2017 09:06:29am GMT

- November 13, 2017 12:48:24pm GMT

- November 12, 2017 09:20:19am GMT

- November 7, 2017 12:48:04pm GMT