CBN Injects $210m Into Forex Market

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

Wednesday, September 11, 2019    / 08:41AM / by CBN / Header Image Credit:


The interbank segment of the Foreign Exchange Market has received another boost of $210 million from the Central Bank of Nigeria (CBN) following sales concluded on Tuesday, September 10, 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, September 6, 2019 the Bank injected the sum of $321.11million and CNY33.3million into the Retail Secondary Market Intervention Sales (SMIS) segment.

Meanwhile, the Naira on Tuesday, September 10, 2019, exchanged at an average of N357/$1 in the BDC segment of the market.


Proshare Nigeria Pvt. Ltd.

Related News

1.       Forex Intervention: CBN Injects $321.11m, CNY 33.3m into Retail SMIS

2.      FX Restrictions on Food Imports: Experts, Economists Share Their Perspective

3.      Retail SMIS Get $297.92m, CNY21.2m

4.      CBN Goes Into Overdrive On Protectionism

5.      Naira Weaker On Lower Oil Prices, Apathy For Stocks And Profit Taking In The Local Debt Market

6.      CBN To Expand List Of FX Restrictions On Imported Items

7.      Letter To Financial Times Editor: Muhammadu Buhari Sparks Dismay Over Policy Shift On Food Imports

8.     10 Reasons President Buhari Should Reconsider His Directive To Stop Allocating FX For Food Imports

9.      President Buhari Directs CBN To Stop Providing Forex For Food Importation To Nigeria

10.  What Makes a Good Forex Broker?

11.   Forex Intervention: CBN Injects $280.04m, CNY 28.3m Into Retail SMIS

12.  Inter-Bank Forex Market: CBN Intervenes With $210m

13.  The Recycling Of Flows From FPIs

14.  Forex: CBN Boosts Wholesale Segment, Others With $210m

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

Related News