The Central Bank of Nigeria (CBN) on Wednesday supplied $210 million into the inter-bank segment of the nation’s Foreign exchange (Forex) market to boost its liquidity.
Figures obtained from the apex bank on the allocation of the sum to various users showed that authorized dealers in the wholesale segment of the market were offered the sum of $100million, while the Small and Medium Enterprises (SMEs) segment received the sum of $55 million.
Also, customers requiring foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated $55 million.
The Bank’s Director, Corporate Communications Department, Mr. Isaac Okorafor, who confirmed the intervention reiterated the bank’s commitment to ensuring the liquidity and sustained stability in the market.
It would be recalled that the apex bank had last Friday also supplied the inter-bank segment of the forex market with the same amount.
At the end of the forex market trading on Wednesday, the Naira exchanged at an average of N361 to the U.S dollar and also sustained its exchange rate stability against other international currencies in the BDC segment of the market.
