Forex: CBN Intervenes With Another $210m In Inter-Bank Market

The Central Bank of Nigeria (CBN) on Tuesday, October 30, 2018, said it again intervened in the inter-bank foreign exchange market to enable authorized dealers meet the requests of their customers.
While the wholesale segment received $100m, the CBN allocated $55m each to the Small and Medium Enterprises (SMEs) and the invisibles segments, comprising requests for tuition fees, medical payments and Basic Travel Allowance (BTA), among others.
A statement quoted the CBN’s Director of Corporate Communications, Isaac Okorafor, as stressing the apex bank’s commitment to ensuring stability in the market through liquidity.
The apex bank had made interventions totaling over $547m within the last one month in the Wholesale and Retail Secondary Market Sales (SMIS).
Meanwhile, the Naira, on Tuesday, October 30, 2018 exchanged at an average of N362/$1 in the BDC segment of the market.