Fidelity bank card banner Camano banner
CBN injects $335.43m into forex market

By News Express on 10/03/2018

Views: 1,102

•CBN Headquarters
•CBN Headquarters

The Central Bank of Nigeria (CBN), in its resolve to guarantee liquidity in the market, injected the sum of $355.43m into the Retail Secondary Market Intervention Sales (SMIS) on Friday.

Figures obtained from the CBN revealed that the figure was to meet requests in the agricultural, airlines, petroleum products and raw materials and machinery sectors.

The Bank’s Acting Director, Corporate Communications Department, Mr. Isaac Okorafor, confirmed the figures, reiterating that the CBN interventions in the market were aimed at sustaining liquidity in the market as well as boosting production and trade.

He explained that, with increasing accretion to the country’s reserve, the Bank is in a much better position to ensure liquidity in the inter-bank sector of the market and as such would continue to intervene in order to drive growth in the economy and guarantee stability in the market, particularly now that the economy had gained steam due to an upsurge in the non-oil sector.

With the rates closing at N360/$1 on Friday, March 9, 2018, Mr. Okorafor expressed confidence that the Bank’s forex intervention underscored its determination to maintain the country’s external reserves in order to safeguard the international value of the Naira.

It will be recalled that the CBN, in its last SMIS in February 2018, injected the sum of $321.4 million in the interbank market, while also intervening in the inter-bank Foreign Exchange Market to the tune of $210,000,000, comprising of $100million for the wholesale segment and $55 million for both the Small and Medium Enterprises (SMEs) and invisibles segment.

Source News Express

Posted 10/03/2018 12:26:35 AM

 

 

CLASSIFIED ADS

 

You may also like...
Air Force orders Kwara community to vacate land...

Fresh massacre: 60 (mostly Christians) dead in Boko...

Weatherman predicts another cloudy Sunday with localised thunderstorms...

Twist in the tale: No schoolgirl abducted or...

IT WASN’T BOKO!: Police confirm Lagos explosion but...

Messiah? Whose messiah? Judge orders name change for...

Yudala partners Uber to offer free rides to...

NAF acquires sophisticated crafts to protect Nigeria

President boycotts own run-off vote

APC government filled with cabals: Secondus

Ecobank posts heavy loss, share price crashes to...

535 Nigerians languish in China prisons for drug...

 

Latest News Buhari under pressure to appoint Ogbonnaya Onu SGF •Details of the caucus meeting inside Aso Rock where he was nominated 2 bank drivers nabbed for conspiracy to kidnap bank manager Three teenagers drown in Akwa Ibom beach In the lion’s den: My June 12 story, By Ebun-Olu Adegboruwa, Esq Fulani herdsmen kill seven along Plateau-Kaduna border Ihedioha gives Okorocha one month ultimatum to return government property HURIWA raises alarm over possible xenophobic violence in Ghana •Asks Buhari, ECOWAS to intervene 7,000 Poly students stopped from writing exams Buhari signs Polytechnic Amendment Bill, one other into law Customs intercepts 1,682 wraps of cannabis concealed inside corpse Delta: Okowa renominates Ukah, others as commissioners Senate President appoints Chief of Staff, Special Adviser on Media

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (494,761 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (425,647 views) Shameless Genevieve Nnaji exposes breasts in public (365,508 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (312,125 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (276,401 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (244,088 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (234,102 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (215,981 views) 10 cars more expensive than Jets (213,041 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (204,563 views) Lagos plane crash: Journalist releases victims’ names (184,620 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (183,936 views)

 

NNPC Financial reports February 2019

CBN banner advert

UBA Wise Savers Promo

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (94) Business & Economy (4,312) Business Verdict (73) Columnists (1,051) Complaints & Requests (95) Enterprise & Opportunities (209) Entertainment (624) Features (762) Global Business Monitor (379) ICT Monitor (53) International (3,601) Interview (184) Live Commentary (30) Love Matters (162) Maggie's Blog (305) News (47,483) Opinion (1,260) Pidgin (17) Politics (11,034) Religion (1,024) Sports (2,045) Stock Watch (39) AMA & Al Jazeera Global Update

 

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera