Fidelity bank banner UBA banner
Forex Market gets CBN’s $210m boost

By News Express on 13/02/2018

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

Views: 718

•CBN Headquarters
•CBN Headquarters

The inter-bank Foreign Exchange Market has received the sum of $210 million from the Central Bank of Nigeria (CBN), to meet customers’ requests in various segments of the market. 

In its determination to meet the customers’ needs in the sundry segments of the market, the CBN offered $100 million to authorised dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment got the sum of $55 million, according to figures obtained from the Bank on Monday. The figures also indicated that 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.

The Bank’s Acting Director, Corporate Communications Department (CCD), Mr. Isaac Okorafor, assured Nigerians that the Bank will continue to intervene in the interbank foreign exchange market, in line with its pledge to sustain liquidity in the market and maintain stability. According to Mr. Okorafor, the CBN will not renege on its promise to manage the forex with a view to reducing the country’s import bills and halting depletion of its foreign reserves.

It will be recalled that last Friday, February 9, 2018, the CBN had again intervened in the Retail Secondary Market Intervention Sales (SMIS) to the tune of $325.64 million to cater for requests in the airlines, agricultural, petroleum products and raw materials and machinery sectors.

Meanwhile, the naira continued its stability in the FOREX market, exchanging at an average of N361/$1 in the BDC segment of the market yesterday.

Source News Express

Posted 13/02/2018 02:42:37 AM

 

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


 

CLASSIFIED ADS

 

You may also like...
Lagos set to construct Fly-Over at Pen Cinema...

Dakuku Peterside: Resolute revolutionary and visionary democrat at...

Jonathan’s wife opens up on police raid of...

Nigerian economy difficult but encouraging: Tinubu

Christian students to wear church garments to school...

Witches say Oshiomhole to be impeached, Tinubu betrayed,...

Kwara Govt. to vacate Unilorin mini campus in...

EFCC re-arraigns Ex-FCT Minister’s son for N1.2bn fraud...

Fuel queues resurface in Lagos, Ilorin, Benin City,...

Anambra budgets N166.9bn for 2018 •Targets N2.5b monthly...

Senator Shehu Sani raises alarm over threat to...

‘Abducted IPOB members face imminent death in DSS...

 

Latest News Missing DELSU student found dead with tongue, breasts severed Fayose’s trial: We moved N1.2bn cash in three planes —Witness APC fortunes bleak unless Oshiomhole resigns, South-South aggrieved aspirants insist Kwara people planning Saraki’s retirement from politics — Oshiomhole David Mark’s daughter dumps PDP for APGA As President, I’ll make difficult decisions to fix Nigeria: Atiku APC threatens to expel Okorocha’s son-in-law, Abe, Shittu, others Minister expresses worry over 2.5m malnourished children in Nigeria APC appoints Peace and Reconciliation Committees Air Force hits Boko Haram workshop, staging post Chicago hospital shooting leaves 4 dead, including police officer and gunman Three arrested in Australia after 'ISIS-inspired' terror plot foiled

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (422,582 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (390,707 views) Shameless Genevieve Nnaji exposes breasts in public (323,793 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (272,406 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (244,755 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (227,778 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (209,542 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (191,097 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (176,423 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (168,873 views) Lagos plane crash: Journalist releases victims’ names (165,449 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (152,286 views)

 

Zenith Zero Balance First Bank chat banking

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (74) Business & Economy (3,801) Business Verdict (54) Columnists (964) Complaints & Requests (95) Enterprise & Opportunities (208) Entertainment (568) Features (670) Global Business Monitor (311) International (2,706) Interview (167) Live Commentary (28) Love Matters (146) Maggie's Blog (38) News (40,683) Opinion (1,145) Pidgin (13) Politics (7,804) Religion (903) Sports (1,780) Stock Watch (35) AMA & Al Jazeera Global Update

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera