In News by ibukun on the 31st, July, 2019

CBN injects $210m into forex market

CBN injects $210m into forex market


The sum of 210 million dollars has been injected into the inter-bank Foreign Exchange Market by the Central Bank of Nigeria after transactions on Tuesday, July 30.

Director of Corporate Communications Department of the Central Bank of Nigeria, Mr Isaac Okorafor made this known in a statement in Abuja.

Okorafor explained that authorized dealers in the wholesale sector of the market received 100 million dollars , while the Small and Medium Enterprises and the invisible segments were allocated the sum of 55 million dollars each.

He said the efforts of the CBN had helped to ensure the stability of the Naira and also increased the level of investors and public confidence in the economy.

Newsmen reports that CBN had in the last intervention on July 26, injected the sum of 284 .2 million dollars and CNY 36million into the Retail Secondary Market Intervention Sales segment.

Meanwhile, the Naira on July 30 exchanged at an average of N 358 to a dollar in the Bureau De Change segment of the market.

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