CBN Injects $210m Into Forex Market

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By; PETER NOSAKHARE, Kaduna

Central Bank of Nigeria Plc, has boosted the interbank Foreign Exchange market by injecting additional 210 million dollars intervention.
The bank offered the sum of 100 million dollars to authorized dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment got 55 million dollars with another 55 million dollars given to invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA).
Acting Director of Corporate Communications Department, Mr. Isaac Okoroafor confirmed this in a statement issued by his office concerning the figures, while restating the CBN’s capacity to continue to sustain the foreign exchange intervention.
Mr. Okoroafor urged authorised dealers to help sustain the confidence in the forex market by continuing to honour requests from customers with genuine needs. The CBN had two weeks ago, intervened in the Secondary Market Intervention Sales (SMIS) with 349.34 million dollars.

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