Fidelity bank banner Bayelsa State banner
CBN boosts forex supply with $195m

By News Express on 18/07/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 735

•CBN Acting Spokesman Isaac Okorafor
•CBN Acting Spokesman Isaac Okorafor

The Central Bank of Nigeria (CBN), in continuation of its foreign exchange supply drive, on Monday intervened in the inter-bank Foreign Exchange Market to the tune of $195 million.

Figures released by the apex bank show that it offered $100 million to the wholesale segment, while the Small and Medium Enterprises (SMEs) segment received $50 million. The invisibles segment, comprising tuition fees, medical payments and Basic Travel Allowance (BTA), among others, received $45 million.

Disclosing the figures obtained, CBN Acting Director of Corporate Communications, Mr. Isaac Okorafor said the CBN was pleased with the state of the foreign exchange market, adding that the bank would continue to intervene in order to sustain the liquidity in the market and guarantee the international value of the Naira.

According to him, the CBN remained determined to achieve its objective of rates convergence, hence the unrelenting injection of intervention funds into the foreign exchange market.

Okorafor expressed optimism that the Naira would sustain its run against the Dollar and other major currencies, considering the level of transparency in the market. He therefore advised stakeholders to abide by the guidelines to ensure transparency in the market.

Last week, the CBN intervened in the various segments of the foreign exchange market with $396.8 million.

Meanwhile, the Naira continued to maintain its stability in the foreign exchange market, exchanging at an average of N364/$1 in the Bureau de Change segment of the market on Monday.

Source News Express

Posted 18/07/2017 12:18:01 AM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
Gunmen abduct Kaduna lawmaker, 3 others

Police shoot protesting workers, kill 2

Ambode declares war on Badoo, mobilises traditional rulers...

Dangote Cement kick-starts 19 multi-million naira CSR projects...

Ambode unveils Fela’s statue, hails legacy

Amaechi’s many legal and political battles . ....

El-Rufai accuses Governor Yero of squandermania

Senator Shehu Sani climbs famous rock, promises to...

VC, Returning Officer rubbish report on Abia North...

GM to recall 4 million vehicles over airbag...

Buhari presides over FEC Meeting

2015: Avoid provocative utterances and actions that will...

 

Latest News IPOB members protest naked in Owerri •Insist on referendum, election boycott National Assembly must reconvene immediately — APC UN demands release of 3 aid workers abducted by Boko Haram Delay in INEC budget may cause constitutional crisis — Group 2m pilgrims descend on Mecca — with smart apps Civil Society groups blast Presidency, National Assembly over leadership crisis Enugu State Government saves N1.89 billion in three years via Due Process Court discharges 9 men accused of murdering Apapa PDP chairman Ogoni congress condemns delay in Ogoni clean-up, battles MOSOP EXCO on tenure extension El-Rufai’s government sponsoring hate speech campaigns against us: Islamic Movement in Nigeria Ebonyi, Akwa Ibom, Enugu top list of highest youths in politics Navy detains 8 suspected diesel smugglers

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (377,830 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (366,712 views) Shameless Genevieve Nnaji exposes breasts in public (296,420 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (241,975 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (222,788 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (217,189 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (192,652 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (174,826 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (159,695 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (158,428 views) Lagos plane crash: Journalist releases victims’ names (152,804 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (143,090 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (56) Business & Economy (3,459) Business Verdict (48) Columnists (911) Complaints & Requests (95) Enterprise & Opportunities (207) Entertainment (528) Features (636) Global Business Monitor (294) International (2,275) Interview (161) Live Commentary (28) Love Matters (134) News (38,085) Opinion (1,060) Pidgin (11) Politics (6,073) Religion (821) Sports (1,647) Stock Watch (33) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Real Madrid vs Atletico Madrid 2-4 Highlights and Goals

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement