Fidelity bank banner UBA banner
CBN boosts forex supply with $195m

By News Express on 18/07/2017

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

Views: 808

•CBN Acting Spokesman Isaac Okorafor
•CBN Acting Spokesman Isaac Okorafor

The Central Bank of Nigeria (CBN), in continuation of its foreign exchange supply drive, on Monday intervened in the inter-bank Foreign Exchange Market to the tune of $195 million.

Figures released by the apex bank show that it offered $100 million to the wholesale segment, while the Small and Medium Enterprises (SMEs) segment received $50 million. The invisibles segment, comprising tuition fees, medical payments and Basic Travel Allowance (BTA), among others, received $45 million.

Disclosing the figures obtained, CBN Acting Director of Corporate Communications, Mr. Isaac Okorafor said the CBN was pleased with the state of the foreign exchange market, adding that the bank would continue to intervene in order to sustain the liquidity in the market and guarantee the international value of the Naira.

According to him, the CBN remained determined to achieve its objective of rates convergence, hence the unrelenting injection of intervention funds into the foreign exchange market.

Okorafor expressed optimism that the Naira would sustain its run against the Dollar and other major currencies, considering the level of transparency in the market. He therefore advised stakeholders to abide by the guidelines to ensure transparency in the market.

Last week, the CBN intervened in the various segments of the foreign exchange market with $396.8 million.

Meanwhile, the Naira continued to maintain its stability in the foreign exchange market, exchanging at an average of N364/$1 in the Bureau de Change segment of the market on Monday.

Source News Express

Posted 18/07/2017 12:18:01 AM

 

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


 

CLASSIFIED ADS

 

You may also like...
British Airways cabin crew launch two-week strike in...

450 IDPs die in Borno . . ....

Fayose: Fayemi plotting to implicate me, PDP leaders...

Papal Nuncio to Nicaragua extols Governor Ikpeazu’s virtues...

Today’s weather to be cloudy and hazy, NiMet...

Suicide bombers die in vain bid to attack...

Niger Govt. asks Ex-Gov. Babangida Aliyu to refund...

Zika virus confirmed in the UK

Igbo leaders seek audience with Donald Trump

LG polls: Abia PDP candidates to emerge through...

12-year-old pupil wins National Mathematics Competition

Restructure Nigeria or fracture her, By Tola Adeniyi...

 

Latest News BREAKING NEWS: Ex-Head of State Ernest Shonekan reported dead Senate rejects inclusion of South East reps in Security Council Buhari support group accuses three governors of sabotage University don commits suicide in Benue Army Chief announces Operation Crocodile Smile III, states objectives Outcry over alleged imposition of the son of Aisha Buhari’s aide as APC candidate Military gives militia December to vacate Benue, Taraba, Nasarawa 2019: Picking Peter Obi will not make Yorubas vote against Atiku — Ajulo Court grants SERAP leave to compel Fashola over ‘N900bn spent on power privatisation’ 2019: Anambra leaders, Ohanaeze assure Atiku of South East support Release of looters’ list didn’t violate rights: Court Kaduna crisis: 24 hours curfew relaxed in parts of metropolis

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (409,219 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (383,738 views) Shameless Genevieve Nnaji exposes breasts in public (316,165 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (259,892 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (238,549 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (225,035 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (204,953 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (186,379 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (171,259 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (166,429 views) Lagos plane crash: Journalist releases victims’ names (162,110 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (149,795 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (70) Business & Economy (3,708) Business Verdict (52) Columnists (949) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (561) Features (660) Global Business Monitor (305) International (2,568) Interview (165) Live Commentary (28) Love Matters (145) News (39,858) Opinion (1,127) Pidgin (13) Politics (7,372) Religion (885) Sports (1,740) Stock Watch (35) AMA & Al Jazeera Global Update

 

NLNG Prize for Literature 2018

Zenith Zero Balance

CBN banner

Firstmobile banner

 

 

 

NEWS EXPRESS TV

LIBYA vs NIGERIA 2-3 Goals Highlights

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement