CBN pumps $210m into Forex Market
The Central Bank of Nigeria (CBN) has injected another sum of $210million into the inter-bank Foreign Exchange Market, to meet customers’ requests in various segments of the market.
Figures obtained from the Bank on Monday, January 15, 2018, indicate that the CBN offered $100million to authorized dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment received the sum of $55 million. Customers requiring 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, confirmed the figures, adding that those who made bids in the wholesale window would receive value for the bids on Tuesday, January 16, 2018.