Fidelity bank banner NewsExpress advert
CBN boosts FOREX market with $195m

By News express on 08/08/2017

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

Views: 871

 •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 Share on Google+


 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
Minister tasks new NTA Board on professionalism, national...

Nigeria’s Constitution unfair to deputy governors: Sibeudu

Dangote set to launch Nigeria’s first private refinery...

Insurgency: Police launches 1st phase of deployment of...

Oil prices rise ready to go above $70...

Another wonder bank emerges, dangles mouth-watering offers

Is APC doing to PDP what PDP did...

Military talks tough, vows to re-capture seized parts...

Thanksgiving: Tomorrow is public holiday in Bayelsa •No...

CBN licenses 11 new International Money Transfer Operators...

Obasanjo bags Master’s degree from National Open University...

Tears as Osodieme re-unites woman with family 35...

 

Latest News BREAKING: Real Madrid beat Liverpool in 2018 Champions League final EFCC begins probe of Obasanjo's $16bn power projects 30th May will witness a total lock-down of South East, South South - IPOB Police Recruitment: JAMB screens 37,000 candidates in 156 CBT centres Armed bandits kill community leader in Benue JOHESU appeals court judgement ordering it to suspend strike Anti-graft fight: We need support, not condemnation — FG If you use your powers negatively, posterity will haunt you - Jonathan tells Buhari Military confirms fire incident at Conoil fields in Bayelsa MeCAM laments effects of wanton killings on Nigerian children, tasks FG IDPs rape report: Stop living in denial, HURIWA tells FG 2018 African Brand Congress to hold in Nigeria

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (346,015 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (342,956 views) Shameless Genevieve Nnaji exposes breasts in public (274,130 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (225,381 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (205,631 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (203,456 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (177,495 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (159,772 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (150,666 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (144,020 views) Lagos plane crash: Journalist releases victims’ names (140,413 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (132,807 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (43) Business & Economy (3,163) Business Verdict (43) Columnists (858) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (498) Features (598) Global Business Monitor (275) International (1,974) Interview (149) Live Commentary (28) Love Matters (120) News (35,633) Opinion (973) Pidgin (10) Politics (5,079) Religion (747) Sports (1,519) Stock Watch (29) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Boko Haram commanders surrender

 

APO Group Partner

 

 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement