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

Forex Market Gets $210m Lift

Forex
1178 VIEWS
Proshare - Facebook Proshare - Twitter Proshare - Google+ Proshare - Linked In Proshare - WhatsApp
Proshare

Thursday, June 21, 2018 08:04 AM /CBN

 

The Central Bank of Nigeria (CBN) has made available the sum of $210million, to meet customers’ requests in various segments of the foreign exchange market. 

In its desire to meet customers’ needs in the various segments of the market, the CBN offered $100million to authorized dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment got boosted with the sum of $55 million.   

According to figures obtained from the Bank on Wednesday, 20th June, 2018, customers needing 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. 

It will be recalled that the Bank last Thursday, June 14, 2018 intervened to the tune of $343.06 million to cater for requests in the retail segment of the forex market. 

Meanwhile, the naira continued its stability in the FOREX market, exchanging at an average of N360/$1 in the BDC segment of the market on Wednesday, June 20, 2018.

 
Proshare Nigeria Pvt. Ltd.


Related News

1.       Forex: CBN Gives Retail SMIS $343.06m Boost

2.      CBN Injects $210m into Forex Market

3.      Forex: CBN Okays Wider Margin for BDCs

4.      Forex: CBN Sells $331.41m at SMIS

5.      CBN Sustains FOREX Market Intervention

6.      CBN Reviews Weekly Foreign Exchange Cash Sales To BDC Operators

7.      CBN Mandates DMBs to Buy and Sell Forex to Travelers Over the Counter

8.     CBN Urges Customers to Report Banks That Refuse to Sell BTA-PTA FOREX to Them

9.      Forex: CBN Intervenes With Another $210m

 

 

READ MORE:
Related News