Forex Market Gets $210m Lift

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Thursday, June 21, 2018 08:04 AM /CBN


The Central Bank of Nigeria (CBN) has made available the sum of $210million, to meet customers’ requests in various segments of the foreign exchange market. 

In its desire to meet customers’ needs in the various segments of the market, the CBN offered $100million to authorized dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment got boosted with the sum of $55 million.   

According to figures obtained from the Bank on Wednesday, 20th June, 2018, 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. 

It will be recalled that the Bank last Thursday, June 14, 2018 intervened to the tune of $343.06 million to cater for requests in the retail segment of the forex market. 

Meanwhile, the naira continued its stability in the FOREX market, exchanging at an average of N360/$1 in the BDC segment of the market on Wednesday, June 20, 2018.

Proshare Nigeria Pvt. Ltd.

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