In spite of a lull in foreign exchange trading activities towards the end of last week, the Central Bank of Nigeria (CBN), on Sunday, assured of its continued intervention in the inter-bank market.
A reliable source expressed determination that the apex bank is determined to ensure that the gains recorded in recent times to stabilise the exchange rate of the Naira, are not eroded.
While disclosing that the bank did not make major interventions all through the week ending May 12, 2017, because there was a glut of foreign exchange in the system, the source maintained that the CBN would continue to make necessary interventions to ensure the stability of the Naira.
The source further disclosed that the windows established by the CBN for Small and Medium Enterprises (SMEs) as well as for investors and exporters were yielding the desired results by providing access to forex and easing pressure on the market.
Commenting on the matter, Acting Director of Corporate Communications at the CBN, Isaac Okorafor reiterated the apex bank’s commitment to ensure that there is enough supply of forex to genuine customers to achieve the goal of forex rates convergence.
It will be recalled that the CBN has since February 2017 been involved in massive interventions in all segments of the interbank market to ensure liquidity and availability of forex.