CBN offers $100m At Interbank Wholesale Forex Window

Three days after offering $100m to authorized dealers at the foreign exchange auction in the interbank wholesale window on Monday, the Central Bank of Nigeria (CBN) on Thursday, April 6, 2017, offered another $100 million in a bid to further stabilize the Naira.
CBN’s spokesman, Isaac Okorafor, who confirmed the offer in Abuja, explained that no interventions were made in the retail auction window for forex.
This may not be unconnected with Monday’s offer of $10,000 to each of the 3,147 licensed bureau de change operators in the country, totaling $31.47m to meet demands at the retail end for invisibles such as PTA/BTA, medicals and tuition fees.
The CBN’s interventions in the different segments, Okoroafor explained, had ensured stability in the market and guaranteed availability to individuals and business concerns.
Meanwhile, Thursday’s sale, brings to $371.47m, total amount sold this week in both the retail and wholesale segments of the market, following Monday’s $90m available for sale to BDC operators on Tuesday and $150m made available to authorized FOREX dealers in the interbank wholesale auction window.

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