The Central Bank of Nigeria (CBN) on Tuesday intervened in the inter-bank segment of the foreign exchange market with $210 million to sustain the market’s liquidity.
Data obtained on the intervention from the apex bank indicated that the wholesale segment of the market got the sum of $100 million while the Small and Medium Enterprises (SMEs) and Invisibles segments got $55 million each.
The apex bank’s Director, Corporate Communications Department, Isaac Okorafor, who confirmed the intervention restated the institution’s commitment to providing needed support to genuine forex users as a strategic option of sustaining the market’s stability.
It would be recalled that the bank had last week also intervened in the inter-bank forex market on Wednesday, November 21, 2018 to the tune of $210 million.
At the end of Tuesday’s forex trading at the BDC segment, the naira continued its stable run against the United States dollars, exchanging at an average of N362/$1.
