The Central Bank of Nigeria (CBN) supplied US210 million dollars to the inter-bank segment of the foreign exchange in furtherance of its policy measures to sustain the market’s liquidity.
Available figures provided by the apex bank on the intervention indicated that authorized dealers in the wholesale segment of the inter-bank forex market received the sum of $100 million.
In addition, Small and Medium Enterprises (SMEs) got the sum of $55 million allocated to them while the invisibles segment end users, whose needs comprise tuition fees, medical payments and Basic Travel Allowance (BTA), among others, got the same funding support.
The apex bank’s Director in charge of Corporate Communications, Isaac Okorafor stated that the bank would continue to intervene in the country’s interbank foreign exchange market to sustain its liquidity.
It would be recalled that the bank made interventions totaling over $547million within the last one month in the Wholesale and Retail Secondary Market Sales (SMIS) segments of the forex market.
At the end of Tuesday’s trading, the Naira exchanged at an average of N362/$1 in the BDC segment of the market.
