The Central Bank of Nigeria (CBN) on Tuesday supplied $ 210 million into the inter-bank Foreign Exchange (Forex) market as part of its sustained interventions to ensure adequate foreign currencies availability in the market.
The apex bank’s Director, Corporate Communications Department, Mr Isaac Okorafor, who confirmed the intervention in a statement hinted that $100 million dollars was offered to authorised dealers in the wholesale segment of the market.
This is even as he disclosed that customers in the Small and Medium Enterprises (SME) segment of the market got $55 million while others requiring forex to pay tuition fees, medical bills and Basic Travel Allowance (BTA), among others, received $55 million.
He restated the apex bank’s commitment to continue to intervene in the interbank Forex market in line with its efforts to sustain liquidity in the market and maintain stability.
It would be recalled that the CBN had on Friday injected $268.4 million and CNY46.3 million into the Retail Secondary Market Intervention Sales (SMIS) segment.
Meanwhile, the Naira sustained its exchange rate stability against other foreign currencies at the Bureau De Change segment of the market at the end of trading on Tuesday, exchanging at an average of N360 to a dollar.
