Fidelity bank banner NewsExpress advert
Forex: CBN boosts market with $325.64m

By News Express on 10/02/2018

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

Views: 447

•CBN Governor Emefiele
•CBN Governor Emefiele

The Central Bank of Nigeria (CBN) has again intervened in the Retail Secondary Market Intervention Sales (SMIS) to the tune of $325.64 million.

Figures obtained from the bank on Friday indicate that the amount released was for requests in the agricultural, airlines, petroleum products and raw materials and machinery sectors.

The figures were confirmed by the Bank’s Acting Director in charge of Corporate Communications, Mr. Isaac Okorafor, who noted that the continued intervention were in line with the assurances made by the Governor, Godwin Emefiele, to sustain market liquidity in order to boost production and trade.

According to Okorafor, the feedback from the wholesale and retail segments of the Nigerian Forex markets showed that customers were satisfied with their level of access to foreign exchange. He said the degree of optimism displayed by all players underscored the fact that everyone was happy with the level of transparency in the market.

Speaking further, Okorafor assured that, with the recession now over and foreign reserves now standing at $42 billion, the CBN had enough in its arsenal to maintain the international value of the Naira as well as guarantee access to forex by those requiring it to meet genuine needs.

He also reiterated that the desire of the bank to ensure that all, particularly low end users, had access to foreign exchange to meet genuine needs prompted the Bankers’ Committee, in its first meeting of 2018, to agree to sell United States dollars to those requiring it for invisibles at the rate of N360/$1, without any commission whatsoever.

It would be recalled that CBN in its last SMIS, in January 2018, injected the sum of $304.4 million in the inter-bank Foreign Exchange Market.

Meanwhile, the naira exchanged at N361/$1 in the BDC segment of the market on Friday.

 

Source News Express

Posted 10/02/2018 01:10:34 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...
Army arrests Boko Haram suspect in Sapele

Osinbajo, others expected at ace broadcaster Kadaria Ahmed’s...

Insurgency: Buhari approves the establishment of naval command...

Clear favourite emerges in race for new UN...

Tragedy as Abia loses Civil Service Commission boss...

It’s official: 219 abducted schoolgirls still in Boko...

Rivers Police intensifies search for missing policemen

Still on Buhari’s verdict on Nigerian youths, By...

Ex-Mint boss awaits extradition as UK court convicts...

Digitalprwire named official news wire partner of the...

Breaking News: FG releases modalities for National Conference,...

Implement white paper on verification, APC chieftain begs...

 

Latest News If President Buhari were a patriot…, By Benjamin Obiajulu Aduba Senate versus IGP: Stop this unnecessary show of shame, By Bernard Balogun Catholic priest infected with Ebola Biafra Day: Intimidation won’t stop us — Zionists Human rights lawyer seeks prosecution of killers of Benue Priests •Makes case for Leah Sharibu Lagos moves to resolve online shopping complaints Herdsmen kill 9 in Taraba, Benue $16bn Power Project: Make your findings public, anti-graft network tells Buhari ‘7 wells drilled in Bida Basin show signs of oil’ Army seeks partnership with EFCC to battle economic criminals MOSOP condemns Shell’s resurgence in Ogoniland Passage of CAMA by Senate a lifeline to small businesses: LCCI boss

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (345,742 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (342,595 views) Shameless Genevieve Nnaji exposes breasts in public (273,853 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (225,162 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (205,469 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (203,205 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (177,296 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (159,564 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (150,476 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (143,823 views) Lagos plane crash: Journalist releases victims’ names (140,262 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (132,666 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (42) Business & Economy (3,160) Business Verdict (43) Columnists (857) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (498) Features (598) Global Business Monitor (274) International (1,972) Interview (149) Live Commentary (28) Love Matters (120) News (35,594) Opinion (973) Pidgin (10) Politics (5,063) Religion (745) Sports (1,517) 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