The Central Bank of Nigeria (CBN) on Tuesday injected $210 million into the foreign exchange market, to meet customers’ requests in various segments of the market.
Out of the sum, the authorized dealers in the wholesale segment of the market got $100 million, while $55 million was supplied each to the Small and Medium Enterprises (SMEs), and invisibles segments of the market.
The Acting Director, Corporate Communications Department of the apex bank, Isaac Okorafor, restated the bank’s commitment to continue to intervene in the inter-bank foreign exchange market, in furtherance of its promise to sustain its liquidity and stability.
The CBN had last Monday, June 4, also intervened with $210 million to cater for requests in the wholesale segment of the market.
Similarly, it also reviewed upward the trading margin for operators of Bureau De Change, BDC, which enables them to now buy US dollars at N357/$1 and sell at N360/$1, thereby leaving them with a N3.00 profit margin on every dollar sold.
Meanwhile, as at the end of Tuesday’s trading in the parallel market, the naira sustained its exchange rate stability trend, selling at an average of N360/$1.
