Fidelity bank banner Bayelsa State banner
CBN injects $210 million into forex market

By News Express on 13/06/2018

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

Views: 734

The Central Bank of Nigeria (CBN) has made available the sum of $210million, to meet customers’ requests in various segments of the foreign exchange market.

The Apex Bank in its desire to meet customers’ needs in the various segments of the market, offered $100million to authorised dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment received the sum of $55 million.  According to figures obtained from the Bank on Tuesday, June 12, 2018, customers needing foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated the sum of $55 million.

It will be recalled that last week, CBN approved an upward review of the trading margin available to operators of Bureau De Change (BDC) in the country, allowing BDC operators could buy the United States dollar from the CBN at the rate of N357/$1 and sell at N360, thereby leaving them with a positive margin of N3.00 per dollar sold.

Meanwhile, the Acting Director, Corporate Communications Department (CCD), Mr. Isaac Okorafor, reiterated the Bank’s commitment to continue to intervene in the interbank foreign exchange market, in line with its pledge to sustain liquidity in the market and maintain stability. Mr. Okorafor reiterated that the CBN would sustain its strategic management of forex, with a view to reducing the country’s import bills and halting depletion of its foreign reserves.

The Bank last Monday, June 4, 2018, intervened to the tune of $210 million to cater for requests in the wholesale segment of the market.

Meanwhile, the naira continued its stability, exchanging at an average of N360/$1 in the BDC segment on Tuesday.

Source News Express

Posted 13/06/2018 04:22:59 AM

 

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


 

CLASSIFIED ADS

 

You may also like...
5 feared killed by Fulani in Benue community...

It will be yet another day of thundery...

Boko Haram not staging a comeback; it remains...

Uwagwu, others bag Ukah’s Excellence Award

EFCC begins probe of Obasanjo's $16bn power projects...

Corruption sabotaging war against terrorism: IGP

UBA Ghana celebrates AU Day in a grand...

World leaders condemn attack on Paris magazine headquarters,...

NNPC above the law? Corrupt oil parastatal claims...

N293m payroll fraud suspects get bail

Asari Dokubo, Uwazuruike join forces to actualise Biafra...

2015: Fashola narrows down potential successors to 7,...

 

Latest News How Wike’s Chief Security Officer led Government House security officials to disrupt Rivers bye-election — APC Alarm bells as job and contract scams hit Niger Delta Nigeria’s democracy in danger: Savannah Centre Osun APC Guber: There was a conspiracy against me — Deputy Speaker, Lasun Third Mainland Bridge to be temporarily shut for 4 days – Lagos Govt 2019: Youths demand waiver, 50 per cent discount on nomination forms Man fights for his life in ICU after phone explodes while charging in bed NAF fighter jets bombard bandits’ hideouts in Zamfara Aregbesola’s free ride: Many stranded as travellers besiege railway terminal PDP wins Taraba's Takum 1 bye-electio NUJ condemns demolition of Ayefele’s radio station by Oyo Govt Ortom seeks global support for Benue IDPs

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (378,860 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (367,303 views) Shameless Genevieve Nnaji exposes breasts in public (297,059 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (242,411 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (223,383 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (217,509 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (193,105 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (175,271 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (159,957 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (158,802 views) Lagos plane crash: Journalist releases victims’ names (153,095 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (143,365 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (56) Business & Economy (3,462) Business Verdict (48) Columnists (912) Complaints & Requests (95) Enterprise & Opportunities (207) Entertainment (528) Features (640) Global Business Monitor (295) International (2,279) Interview (162) Live Commentary (28) Love Matters (135) News (38,143) Opinion (1,063) Pidgin (11) Politics (6,101) Religion (827) Sports (1,652) Stock Watch (33) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Real Madrid vs Atletico Madrid 2-4 Highlights and Goals

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement