The Central Bank of Nigeria (CBN) on Tuesday provided the sum of $210 million to meet customers’ requests in various segments of the interbank foreign exchange market.
A decomposition of the $200 million intervention on segment-by-segment basis showed that the apex bank offered $100 million to authorized dealers in the wholesale segment of the market while the Small and Medium Enterprises (SMEs) segment got boosted with the sum of $55 million.
According to figures sourced from the bank, customers requesting foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated the sum of $55 million.
It would be recalled that the bank had last Tuesday, August 28, 2018 intervened to the tune of the same amount in the market to cater for requests in the forex market.
Meanwhile, at the end of trading at the BDC segment of the forex market, the Naira sustained its exchange stability against other foreign currencies, exchanging at an average of N361/$1.
