The Central Bank of Nigeria (CBN), in continuation of its efforts to sustain foreign exchange liquidity in the country, on Tuesday intervened in the inter-bank Foreign Exchange Market to the tune of $195 million.

Figures released by the 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.

The Acting Director, Corporate Communications Department at the Bank, Mr. Isaac Okorafor, while confirming the figures, 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.

Okorafor reiterated the apex bank’s determination to sustain the provision of foreign exchange with a view to ensuring liquidity in the market and enhance accessibility and affordability for genuine end users.

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

Last week, the CBN intervened in the various segments of the foreign exchange market with $698.5 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 Tuesday.