Inter-Bank Forex Market Gets $210m Boost from CBN

Forex
1314 VIEWS
Proshare - Facebook Proshare - Twitter Proshare - Linked In Proshare - WhatsApp
Proshare

Wednesday, April 24 2019  07:20 PM / CBN

 

In continuation of its mediation in the inter-bank foreign exchange market, the Central Bank of Nigeria (CBN) on Wednesday, April 24, 2019, intervened with the sum of $210 million to sustain liquidity in that segment of the market. 

According to the figures released by the CBN on Wednesday, authorized dealers in the wholesale segment of the market, as in previous deals, were offered the sum of $100million, while those in the Small and Medium Enterprises (SMEs) segment got a boost of $55 million. Customers purchasing foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allotted a total of $55 million. 

The Bank’s Director, Corporate Communications Department, Mr. Isaac Okorafor confirmed the transactions, reiterating that the CBN will continue to ensure the availability of foreign exchange in order to ensure continued stability in the markets. 

In its last intervention on Thursday, April 18, 2019, the Bank injected the sum of $254.8million and CNY34.8 million into the Retail Secondary Market Intervention Sales (SMIS) segment. 

Meanwhile, the Naira on Wednesday, April 24, 2019, exchanged at an average of N360/$1 in the BDC segment of the market.

 

Proshare Nigeria Pvt. Ltd.


Related News

1.       CBN Injects $254.8m, CNY35.8m into Forex Retail SMIS

2.      Forex Market Gets $210m CBN Boost

3.      Forex in Nigeria: The Future is Now?

4.      Again, CBN Boosts Forex Market with $210m

5.      Forex Intervention: CBN injects $247.8m, CNY 34.8m into Retail SMIS

6.      Gross Official Reserves Decreased by US$860m in February 2019 to US$42.31bn

7.      CBN Intervenes With $269.92m, CNY31.34m in Retail SMIS

8.     Import Substitution - CBN Bans FX Sale To Textile Importers

9.      Large FX Inflow At IEFX Window Through FPIs In The Fixed Income Market

10.  CBN Places Access to FX for All Forms of Textile Materials on the FX Restriction List


Proshare Nigeria Pvt. Ltd.

READ MORE:
Related News
SCROLL TO TOP