CBN Injects $210m Into Forex Market

Proshare - Facebook Proshare - Twitter Proshare - Linked In Proshare - WhatsApp

Wednesday, June 12, 2019   /08:59 AM / CBN


The interbank segment of the Foreign Exchange Market has received a boost of $210 million from the Central Bank of Nigeria (CBN) following sales concluded on Tuesday, June 11, 2019. 

Figures obtained from the CBN indicated that authorized dealers in the wholesale segment of the market were offered the sum of $100million, while the Small and Medium Enterprises (SMEs) segment received the sum of $55 million. The sum of $55 million was allocated to customers requiring foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others. 

Confirming the figures, the Director, Corporate Communications Department, Mr. Isaac Okorafor reaffirmed the Bank’s commitment towards ensuring stability in foreign exchange market. 

It will be recalled that at the last intervention on Friday, June 7, 2019, the Bank injected the sum of $294.7million and CNY31.4million into the Retail Secondary Market Intervention Sales (SMIS) segment. 

Meanwhile, the Naira on Tuesday, June 11, 2019, exchanged at an average of N360/$1 in the BDC segment of the market.


Proshare Nigeria Pvt. Ltd.

Related News

1.       Currency Volatility and Stock Markets: A Lesson in the Domino Effect

2.      Travelling Abroad? PTA and BTA in USD, EUR and GBP Now Available In All Zenith Bank Branches

3.      Gross Official Reserves Increased By US$330m in May 2019 to US$45.12bn

4.      CBN Injects $294.7m, CNY 31.43m into Retail SMIS

5.      CBN Injects $205m into Forex Market

6.      Gross Official Reserves Increased By US$360m in April 2019 to US$44.79bn

7.      CBN Injects $205m Into Forex Market

8.     How to Combine a Job with Forex Trading?

9.      The Many FX Interventions Of The CBN

10.  CBN Intervenes With $271.83m, CNY41.14m In Retail SMIS

11.   Inter-Bank Forex Market Gets $210m Boost from CBN

12.  CBN Injects $254.8m, CNY35.8m into Forex Retail SMIS

13.  Forex Market Gets $210m CBN Boost

14.  Forex in Nigeria: The Future is Now?

15.   Again, CBN Boosts Forex Market with $210m 

 Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

Related News