Forex: CBN Boosts Market With $210m

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

Tuesday, February 26, 2019  06:29 PM / CBN


The Central Bank of Nigeria (CBN) has injected the sum of $210 million into the inter-bank Foreign Exchange Market. 

Figures obtained from the CBN on Tuesday, February 26, 2019, 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. Similarly, 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. 

Confirming the figures, the Bank’s Director, Corporate Communications Department, Mr. Isaac Okorafor reiterated the CBN’s commitment to continue to boost interbank foreign exchange market to ensure liquidity in the market. 

It will be recalled that on Friday, February 22, 2019, the Bank injected the sum of $268.4 million and CNY46.3 million into the Retail Secondary Market Intervention Sales (SMIS) segment. 

Meanwhile, the Naira on Tuesday, February 26, 2019 exchanged at an average of N360/$1 in the BDC segment of the market.


Proshare Nigeria Pvt. Ltd.

Related News

1.       Forex Intervention: CBN Injects 268.4m, CNY 46.3m Into Retail SMIS

2.      Forex: CBN ‘Buoys’ Market With $210m

3.      Is Part-Time Forex Trading Profitable?

4.      The Lubricant Provided By The FPIs

5.      CBN Intervenes With $279.13m, CNY 46.92m in Retail SMIS

6.      Official Reserves Stable in January 2019; Increased by US$60m to US$43.17bn

7.      Forex: CBN Injects $210m Into Inter-Bank Market

8.     Forex Intervention: CBN Injects $289.76m, CNY 38.70m Into Retail SMIS

9.      How Does Online Foreign Exchange Trading Work?

10.  Refinery: FG Will Source Forex from Dangote – CBN Gov

11. CBN May Increase Items On Forex Restriction List To 50

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.
Related News