CBN Injects $210m In Wholesale Forex Segment, Others

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Post Views: 284 The Central Bank of Nigeria (CBN) on Tuesday, November 27, 2018, intervened in the wholesale segment of the foreign exchange market, o...

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The Central Bank of Nigeria (CBN) on Tuesday, November 27, 2018, intervened in the wholesale segment of the foreign exchange market, offering the sum of $100m to dealers in that window.
A statement by the CBN said it also made interventions of $55m each in the Small and Medium Enterprises (SMEs) and Invisibles segments to meet the needs of customers.
The statement quoted by Isaac Okorafor, Director of Corporate Communications Department at the CBN, as assuring of the bank’s continued mediation in the interbank foreign exchange market in order to guarantee stability.
The apex bank had on Wednesday last week also intervened in the wholesale segment of the inter-bank foreign exchange market to the tune of $210m.
Meanwhile, the Naira continued its stable run against the United States dollars on Tuesday, November 27, 2018, exchanging at an average of N362/$1 in the BDC segment of markets across Lagos and Abuja.

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