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

Forex
476 VIEWS
Proshare - Facebook Proshare - Twitter Proshare - Instagram Proshare - Linked In Proshare - WhatsApp
Proshare

Tuesday, July 30, 2019 /07:15PM / by CBN

 

In its last intervention for the month of July, 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, July 30, 2019, indicated that authorized dealers in the wholesale sector of the market received $100 million, while the Small and Medium Enterprises (SMEs) and the invisibles segments were allocated the sum of $55 million each. 

The Director, Corporate Communications Department at the CBN, Mr. Isaac Okorafor, said the efforts of the CBN had helped to ensure the stability of the Naira. This, according to him, had also increased the level of investors and public confidence in the economy. 

It will be recalled that the Central Bank of Nigeria had in the last intervention on Friday July 26, 2019, injected the sum of $284.2million and CNY36million into the Retail Secondary Market Intervention Sales (SMIS) segment. 

Meanwhile, the Naira on Tuesday, July 30, 2019, exchanged at an average of N358/$1 in the BDC segment of the market.

 

Proshare Nigeria Pvt. Ltd.


Related News

1.       Retail SMIS: CBN Injects $284.2m, CNY36m

2.       Nigerian Inter-Bank Forex Market Gets CBN Boost

3.       CBN Intervenes In Forex Market With $210m

4.       Retail SMIS Gets $298.71m, CNY39.69m Boost

5.       Gross Official Reserves Declined By US$50m in June to US$45.07bn

6.       Beginner Tips to Start Trading in the Forex Market

7.       CBN Injects $242.04m, CNY 32.3m Into Retail SMIS

8.       Forex: CBN Boosts Market With $210m

9.       CBN Again Injects $210m Into Forex Market

10.   CBN’s Exchange Rate Policy: Possibility of Unification?

11.   Continuity Of FX Policy, Hot Air Notwithstanding

12.   Nigeria Central Bank Quashes Talk of Exchange-Rate Policy Change

13.   CBN Injects $210m Into Forex Market

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


Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.

READ MORE:
Related News
SCROLL TO TOP