Tuesday, August 15,
2017 7:03PM / CBN
Central Bank of Nigeria (CBN) on Tuesday, August 15, 2017, intervened in the
Inter-Bank Foreign Exchange Market to the tune of $364million in a bid to
sustain liquidity in the market.
breakdown of Tuesday’s forex intervention indicates that the Retail Secondary
Market Intervention Sales (SMIS) received the largest allocation of
$264,192,252.95. The CBN also offered the sum of $100,000,000 to authorised
dealers in the wholesale window.
the figures yesterday, sources at the Bank said the CBN also received requests
from authorized forex dealers on behalf of their customers, for which results
will be released.
to the sources, the Bank remained committed to achieving a convergence of rates
at the inter-bank and Bureau-de-Change segments of the market.
will be recalled that the Bank last week intervened in the wholesale, Small and
Medium Enterprises (SMEs) and invisibles windows to the tune of $195 million.
the CBN, in a bid to improve foreign exchange availability in the Nigerian
Forex Market and ameliorate challenges encountered by critical stakeholders,
says payment for port charges to the Nigerian Ports Authority (NPA) and other
agencies by oil marketing companies can now be accommodated by the Bank using
circular endorsed by the Director, Trade and Exchange Department, Wuritka Dauda
Gotring, directed authorized delears to accept the request for the payments of
port charges from oil marketing companies and forward same to the CBN Forex