CBN injects $210m in forex market – Independent Observers

CBN injects $210m in forex market

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By Kunle Adedoyin

The Central Bank of Nigeria (CBN) on Tuesday boosted the interbank segment of the Nigerian foreign exchange market with an injection of $210 million.

Mr. Isaac Okorafor, the CBN Director of Corporate Communications Department, in a statement in Abuja, said the figures released by CBN indicated that authorized dealers in the wholesale segment of the market were again offered the sum of $100 million.

He said that the Small and Medium Enterprises window received the sum of $55 million while $55 million were allocated to customers requiring foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance, among others.

The director said that the bank was committed to sustaining the level of stability in foreign exchange market.

(NAN)

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