Shell Energy Entrepreneurs banner Yudala banner
CBN injects another $250m into Forex Market

By News Express on 12/09/2017

Share on facebook Yahoo mail icon Gmail icon

Views: 495

•CBN Headquarters
•CBN Headquarters

The Central Bank of Nigeria (CBN), in its relentless effort to keep the inter-bank foreign exchange market liquid, on Monday intervened with another sum of $250 million.

A breakdown of Monday’s intervention indicates that the wholesale sector was offered $100 million, just as the Small and Medium Enterprises (SMEs) window received a boost of $80 million. Those requiring foreign exchange to address needs such as Business/Personal Travel Allowances, school tuition, medicals, etc. were allotted $70 million.

The Bank’s Acting Director in charge of Corporate Communications, Isaac Okorafor, who disclosed this, reiterated that the interventions had ensured stability in the market, even as he stressed that the CBN remained committed to maintaining transparency in the market.

According to him, CBN had taken measures to check the activities of speculators and shield the currency from attacks, while also maintaining the international value of the Naira.

While assuring that authorised dealers had enough funds to meet the foreign exchange needs of customers, Okorafor urged all to adhere to the extant guidelines on the sale of forex in the Nigerian foreign exchange market. He therefore advised those in genuine need of foreign exchange to continue to approach their respective banks for purchase. He said the Bank remained very optimistic that the Nigerian currency will fare strongly against other notable currencies around the world.

On the convergence target of the bank between the foreign exchange rates at the inter-bank and the Bureau de Change (BDC), he said the goal would be attained if all stakeholders played by the rules.

CBN last week assured customers of adequate foreign exchange in the market, dispelling fears of a scarcity of foreign exchange in the Nigerian foreign exchange market. Meanwhile, the naira exchanged at the Bureau de Change segment of the market on Monday at the rate of N365/$1.

 

Source News Express

Posted 12/09/2017 12:25:18 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...
We have proof that DEPUTY GOVERNOR STOLE N.4...

How Boko Haram made Nyanya a city of...

Satguru Maharaji ji urges Buhari to tackle Boko...

Boko Haram’s attack on Kirikiri Prisons (Lagos) aborted...

Italian minister, parliamentary president join hundreds to mourn...

Research institutes’ workers begin warning strike

Medicine after death: Ogun PDP expels Obasanjo after...

Search for survivors at collapsed Lekki building called...

Sultan charges Army

Expect low revenues from oil and gas, Kachikwu...

Perez, Iwobi propel Arsenal to top of UCL...

South Africa: 11 officials suspended for corruption

 

Latest News US announces time for relocation of Embassy to Jerusalem Gunmen abduct lawmaker’s 2 children, kill 3 villagers 80 students escape death as fire razes hostel Combat-ready MOPOL to tackle killer Badoo boys, other criminals in Ikorodu Lagos Nigeria, US launch Security Governance Initiative Go for second term, South-East APC leaders urge Buhari Government shutdown takes heavy toll on US workers, economy WHO donates 853 motorcycles to Nigeria for disease surveillance Music star Olamide joins war against drug abuse Kano market fire ‘economically destabilising’ — Buhari Weah sworn in as Liberia president, vows to end corruption Enugu Airport runway wears new look

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (316,476 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (307,086 views) Shameless Genevieve Nnaji exposes breasts in public (245,683 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (201,868 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (190,497 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (179,932 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (156,077 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (140,458 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (136,391 views) Lagos plane crash: Journalist releases victims’ names (124,844 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (122,206 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (119,190 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (33) Business (2,855) Business Verdict (32) Columnists (792) Complaints & Requests (94) Enterprise & Opportunities (201) Entertainment (431) Features (541) Global Business Monitor (222) International (1,753) Interviews (139) Live Commentary (28) Love Matters (100) News (32,096) Opinion (869) Pidgin (10) Politics (4,367) Religion (667) Sports (1,408) Stock Watch (26) AMA & Al Jazeera Global Update

 

CBN Banner advert

CBN Words on marble

 

 

Football president George Weah puts Liberian army to the test

 

APO Group Partner

 

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!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

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!