CBN Injects $210m In Forex Market
The interbank segment of the Nigerian foreign exchange market received a fresh boost of 210 million dollars from the Central Bank of Nigeria (CBN) on Tuesday.
The CBN Director of Corporate Communications Department, Mr. Isaac Okorafor, said this in a statement in Abuja.
He said that the Small and Medium Enterprises (SMEs) window received the sum of 55 million dollars, while 55 million dollars were allocated to customers requiring foreign exchange for Invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others.
The director said that the bank was committed to sustaining the level of stability in foreign exchange market.
The CBN, July 12, injected 298.7 million dollars and CNY39.6 million into the Retail Secondary Market Intervention Sales (SMIS) segment.
The naira was N360 to the dollar at the Bureau De Change (BDC) segment on Tuesday.
