Proshare - Facebook Proshare - Twitter Proshare - Google+ Proshare - Linked In Proshare - RSS Feed

Forex: CBN Intervenes with $210m

Forex
2453 VIEWS
Proshare - Facebook Proshare - Twitter Proshare - Google+ Proshare - Linked In Proshare - WhatsApp
Proshare

Tuesday, March 27, 2018 /6:18 PM / CBN  

The Central Bank of Nigeria (CBN) on Tuesday, March 27, 2018, intervened in the inter-bank sector of the Foreign Exchange market to the tune of $210 million.
 

Figures obtained from the Bank on Tuesday, March 27, 2018 indicate that the Wholesale sector of the market got a boost of $100 million, while the Small and Medium Enterprises (SMEs) and invisibles sectors were each offered $55 million.

According to the Acting Director, Corporate Communications Department at the Bank, Isaac Okorafor, Tuesday’s interventions were in continuation of the Bank’s commitment to maintain stability in the market as well as enhance production and trade.
 

Okorafor said the monetary regulator was pleased with the cooperation by players in the inter-bank market, which he noted had enjoyed a great deal of stability and seamless access of customers to foreign exchange following regular interventions by the CBN.
 

Continuing, Okorafor expressed optimism that the first Monetary Policy meeting (MPC) of the CBN billed for early next month will add fillip to the monetary policy activities of the Bank. He therefore urged Nigerians to remain optimistic about the economic outlook for 2018, stressing that the CBN remained people-centred.
 

It will be recalled that the CBN had last Friday, March 23, 2018, sustained its intervention in the Forex market by injecting the sum of $339.89 million in the Retail Secondary Market Intervention Sales (SMIS).
 

Meanwhile, the naira exchanged at
N360/$1 in the Bureau De Change (BDC) segment of the market on Tuesday, March 27, 2018.
 

Proshare Nigeria Pvt. Ltd.

Related News

  1. Nigeria’s External Reserves - Beyond The USD46bn Debate
  2. CBN Buoys Forex Market with $210m
  3. Nigeria’s External Reserves Climb to $46bn
  4. CBN Injects $335.43m into Retail SMIS
  5. Gross Official Reserves Increased by US1.81bn in February 2018
  6. CBN Boosts Forex Market With $210m
  7. Forex: Inter-Bank Market Gets $210 Boost
  8. Dramatic Turnaround in FX Availability
  9. Forex Market Gets CBN’s $210m Boost
  10. CBN Cancelled Charges on the Sale of Foreign Exchange for Invisible Transactions
  11. Forex: CBN Intervenes in Retail SMIS With $325.64m
  12. Gross Official Reserves Moved Across the US$40bn Threshold, and Counting
  13. CBN Injects $210m into Forex Market
  14. Forex: Retail SMIs get $304.4m
READ MORE:
Related News