Forex: CBN Injects $210m into Inter-Bank Market

Forex: CBN Injects $210m into Inter-Bank Market

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Post Views: 236 The Central Bank of Nigeria (CBN), on Tuesday, January 29, 2019, continued its periodic intervention in the foreign exchange market in...

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The Central Bank of Nigeria (CBN), on Tuesday, January 29, 2019, continued its periodic intervention in the foreign exchange market injecting another $210m into the inter-bank foreign exchange market.
Figures released by the CBN indicated that authorised dealers in the wholesale segment of the market received the sum of $100m, while the Small and Medium Enterprises (SMEs) and the invisibles segments were allocated $55m each.
Director, Corporate Communications Department at the CBN, Isaac Okorafor, confirmed the figures and restated the CBN’s resolve to always meet the request of genuine customers in the various segments of the market.
It will be recalled that on Friday, January 25, 2019, the Bank injected a total sum of $289.76m into retail Secondary Market Intervention Sales (SMIS) and CNY38.70m in the spot and short-tenored forwards of the inter-bank foreign exchange market.
Meanwhile, the naira on Tuesday, January 29, 2019 continued to exchange at an average of N360/$1 in the Bureau De Change (BDC) segment of the market.

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