Forex: CBN injects $210 million into forex market

Posted by News Express | 28 November 2018 | 692 times

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•CBN spokesperson, Isaac Okorafor

The Central Bank of Nigeria (CBN) on Tuesday intervened in the wholesale segment of the foreign exchange market, offering the sum of $100 million to dealers in that window.

In the latest round of intervention, which was made public on Tuesday, the CBN also made interventions of $55 million each in the Small and Medium Enterprises (SMEs) and Invisibles segments to meet the needs of customers.

The Director, Corporate Communications Department at the CBN, Mr. Isaac Okorafor, again assured of the Bank’s continued mediation in the interbank foreign exchange market in order to guarantee stability.

News Express reports that CBN last week also intervened in the wholesale segment of the inter-bank foreign exchange market on Wednesday, November 21, 2018 to the tune of $210 million.

Source: News Express

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