CBN Injects another $210m into Forex Market

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The Central Bank of Nigeria (CBN), in another round of intervention, on Tuesday, November 13, 2018, said it injected the sum of $210m in the inter-bank foreign exchange market.

According to the CBN, the authorized dealers in the wholesale segment of the market received the sum of $100m, while the Small and Medium Enterprises (SMEs) and invisibles segments were allotted the sum of $55m each.

The statement by Isaac Okorafor, the bank’s Director, Corporate Communications Department, assured that the CBN would continue to sustain liquidity in the forex market. He also expressed optimism that the Naira will continue its strong run against the dollar and other major currencies around the world, considering the stability in the market and robust reserves.

The CBN had on Friday, November 2, 2018, made interventions to the tune of $337.16m in the retail Secondary Market Intervention Sales (SMIS) and CNY56.17million in the spot and short-tenored forwards segment of the foreign exchange market.
Meanwhile, the Naira on Tuesday, November 13, 2018 exchange at an average of N360/$1in the BDC segment of the market.

https://investdata.com.ng/2018/11/cbn-injects-another-210m-into-forex-market/#more

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