Save Austin Fair Yudala banner
CBN boosts FOREX market with $195m

By News express on 08/08/2017

Share on facebook Yahoo mail icon Gmail icon

Views: 637

 •CBN Acting Director, Corporate Communications, Isaac Okorafor
•CBN Acting Director, Corporate Communications, Isaac Okorafor

The Central Bank of Nigeria (CBN) on Monday boosted the FOREX market by offering a total of $195m in three segments of the market. In the wholesale segment of the inter-bank Foreign Exchange market, it auctioned $100 million and also intervened in the Small and Medium Enterprises (SMEs) and invisible segments, with the sum of $50m and $45m respectively.

Responding to media enquiries, Acting Director, Corporate Communications Department, Mr. Isaac Okorafor, reaffirmed the bank’s commitment to sustain liquidity in the market to ensure that genuine requests for FOREX are met as well as improve liquidity and flexibility in the market.

The intervention in the new week follows the major intervention last week, which shows a total sum of $462,336,426.74 made up of $267,336,426.74, for the Retail Secondary Market Intervention Sales (SMIS), while the sum of $100,000,000 was offered as wholesale interventions, $50,000,000 for the Small and Medium Enterprises (SMEs) FOREX window and $45,000,000 for the invisibles – Business/Personal Travel Allowances, tuition and medical fees, among others.

Mr. Okorafor stated that the leadership of the CBN was upbeat with the positive impact its current foreign exchange management is having on the manufacturing sector, agriculture and economic activities across the country.

He also reiterated the CBN Governor’s desire to achieve stability and ultimately ensure convergence of rates in the market.  Meanwhile, the naira hovered at between N361 and N362/$1 in the BDC segment of the market over the weekend.

Source News Express

Posted 08/08/2017 05:55:49 AM

 

Share on facebook Yahoo mail icon Gmail icon


 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

 

You may also like...
HURIWA rebukes Okorocha for persecuting pro-Jonathan royal fathers...

Axe dangles over Nigerian football as Sports Minister...

Akwa Ibom gets N32bn from World Bank for...

SHAMELESS MAN: Ex-Police IG Hafiz Ringim begs Britain...

Saboteurs frustrating war against Boko Haram —Jonathan

Boko Haram kingpin nabbed in Borno

Obono-Obla: Of democracy, opportunism and the All Progressives...

Bello floors Faleke at Kogi Governorship Election Tribunal...

Ministers weep as Osinbajo chairs valedictory session for...

2 final-year varsity students in ‘soup’ over armed...

Senate vs Customs Boss: Hameed Ali’s action ‘tantamount...

CBN to sustain intervention in FOREX market

 

Latest News Nigerian professionals unfold plans to create one million jobs Investigation: How Chinese firm is degrading Abia community, officials sexually exploiting female workers Probe reveals N30b oil revenue ‘hidden’ by NNPC Bankers Committee to create 100,000 jobs by first quarter of 2018 Rate of poverty in Alabama (USA) shocking — UN official Ekweremadu, PDP behind Nigeria’s debt profile — VON DG Ijaw, monarch, Edo at war over Okomu land ownership Osun Govt. seeks vacation of court order stopping federal allocation to LGs Oil prices drop on increased US drilling activity Sponsors, investors queue up for One Lagos Fiesta PDP’s umbrella without the South-West will suffer punctures 500 NYSC members get loans to set up businesses

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (300,596 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (285,258 views) Shameless Genevieve Nnaji exposes breasts in public (230,193 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (193,138 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (183,270 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (169,888 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (147,058 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (132,305 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (130,458 views) Lagos plane crash: Journalist releases victims’ names (118,942 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (115,406 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (111,891 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (33) Business (2,813) Business Verdict (27) Columnists (776) Complaints & Requests (94) Enterprise & Opportunities (193) Entertainment (419) Features (522) Global Business Monitor (192) International (1,685) Interviews (138) Live Commentary (28) Love Matters (92) News (30,928) Opinion (844) Pidgin (9) Politics (4,206) Religion (653) Sports (1,379) Stock Watch (25) AMA & Al Jazeera Global Update

 

CBN Banner advert

CBN Words on marble

 

 

MOBO Awards

 

APO Group Partner

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!