Fidelity bank banner Bayelsa State banner
CBN boosts forex market with $304.4m

By News Express on 27/01/2018

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

Views: 689

•CBN Governor Godwin Emefiele
•CBN Governor Godwin Emefiele

The Central Bank of Nigeria (CBN) has intervened in the Retail Secondary Market Intervention Sales of the inter-bank foreign exchange market to the tune of $304,400,000.

Figures obtained from the Bank indicate that the sum, as in previous interventions, were in favour of interests in the agricultural, airlines, petroleum products and raw materials and machinery sectors.

CBN’s Acting Director in the Corporate Communications Department, Mr. Isaac Okorafor confirmed the figures, reiterating that the objective of the the Bank remained to boost liquidity, production and trade.

He explained that the CBN would continue to ensure liquidity in the interbank sector of the market as well as sustain its interventions in order to drive economic growth and guarantee market stability.

Speaking further, Okorafor expressed optimism that the Nigerian economy stood to gain massively from the Bank’s foreign exchange management strategy as could be seen in the accretion to the foreign reserves, which now stands at over $40 billion.

Meanwhile, the Naira exchanged for N361/$1 in the Bureau de Change segment of the market on Friday.

 

Source News Express

Posted 27/01/2018 03:08:37 AM

 

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


 

CLASSIFIED ADS

 

You may also like...
Daura Emirate Council to hold special prayers for...

Gov. Yero cries out to God as Kaduna...

Anambra Adoration Tragedy: Onitsha Catholic Diocese clears Obi,...

No plan to Islamise Nigeria, says Cardinal Onaiyekan...

Risks expert predicts fast rise in use of...

June 12: Activist challenges Buhari, says it’s illegal...

Lagos serves contravention notice to owners of illegal...

From Libya to Alaba . . . new...

International Criminal Court mulls intervention in Boko Haram...

Newswatch vs Newswatch: Jimoh Ibrahim loses Round 1...

NASS Siege: Expel Buhari, Secondus tells UK •Says...

Niger Delta militants warn army, oil firms of...

 

Latest News Angry APC youths attack Governor Obaseki’s convoy Buhari shuns protocol, treks 800 metres •He is fit and ready for 2019 — Presidency Apprehension as firm serves Adeleke University quit notice, threatens to demolish structures Police captures madman accused of killing Ekiti monarch Kidnapping: NMA threatens to withdraw medical services in Cross River HURIWA cautions Army on Operation Python Dance 3, asks Buhari to rejig Security Council More males than females register to vote SERAP to Ajimobi: Repair Ayefele’s Fresh FM building or face legal action US deports Nazi camp guard to Germany 170 prison inmates regain freedom in Kano Eid-el-Kabir: Follow Allah’s precepts, Turaki urges Nigerians Gov. Sani-bello stresses the need for peaceful coexistence •Urges youth to engage in useful ventures

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (379,733 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (367,758 views) Shameless Genevieve Nnaji exposes breasts in public (297,607 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (242,747 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (223,879 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (217,724 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (193,467 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (175,591 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (160,125 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (159,120 views) Lagos plane crash: Journalist releases victims’ names (153,375 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (143,580 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (56) Business & Economy (3,472) Business Verdict (48) Columnists (912) Complaints & Requests (95) Enterprise & Opportunities (207) Entertainment (530) Features (642) Global Business Monitor (298) International (2,286) Interview (162) Live Commentary (28) Love Matters (137) News (38,200) Opinion (1,064) Pidgin (11) Politics (6,121) Religion (837) Sports (1,655) Stock Watch (33) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Yinka Ayefele's Music House Demolished

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement