CBN Injects Fresh $210m In Sustained Fx Intervention

-



The Central Bank of Nigeria (CBN), on Tuesday, July 17, 2018 injected the sum of $210 million into the inter-bank foreign exchange (forex) market.

A breakdown showed that while $100m was offered to authorized dealers in the wholesale segment of the market, Small and Medium Enterprises (SMEs) got $55m, same as invisibles like tuition fees, medical payments and Basic Travel allowance (BTA).

A statement by Isaac Okorafor, Acting Director of Corporate Communications Department at the CBN, who confirmed the figures, stressed the apex bank’s resolve to continue intervening in the interbank foreign exchange market.

This, he assured, is in line with its pledge to sustain liquidity in the market and maintain stability.
Okorafor maintained that the continued forex intervention is to ensure that the CBN meets genuine customers’ requests across the various segments of the market.

Tuesday’s intervention followed a similar one on Tuesday, July 10, 2018, to cater for requests in the wholesale segment of the market.
Meanwhile, the naira continued to exchange at an average of N360/$1 in the Bureau De Change (BDC) segment of the market on Tuesday, July 17, 2018.

https://investdata.com.ng/2018/07/cbn-injects-fresh-210m-in-sustained-fx-intervention/#more

Comments

Post a Comment

Popular posts from this blog

Wherever You are NOW is Your Decision

-
Image
                                        Photo credit: entrepreneurfail According to research, very few people are successful at anything at first. I included. The reason only a tiny percentage of the population achieves any significant success or wealth through stock is that few are willing to go through the process of what it takes to achieve in the stock market, and there is no shortcut. In fact, everybody has to go through four levels of learning every single time, and often, in the process - fail, regroup and begin again. Most people blame others like government policies, currency fluctuation, political instability, the election for stopping their progress, but in truth, there's only one person who can put on the parking break and that person is YOU. Furthermore, many people drive around with the break on without knowing it, or once awareness arrives, don't know how to lif...
Read more