CBN auctions $210m at forex market

Jul 18, 2018
Central Bank of Nigeria (CBN) on Tuesday injected $210 million into the inter-bank foreign exchange (forex) market.
It offered $100 million to authorised dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment got $55 million.
 
Another $55 million was allocated to invisibles such as tuition fees, medicals and Basic Travel allowance (BTA).
 
Meanwhile, the naira continued to exchange at an average of N360/$1 in the Bureau De Change (BDC) segment of the market on Tuesday, July 17.
 
In a statement, the bank’s Acting Director of Corporate Communications Department, Isaac Okorafor, confirmed the figures and restated the bank’s resolve to continue to intervene in the interbank forex market, in line with its pledge to sustain liquidity in the market and maintain stability.
 
Okorafor maintained that the continued forex intervention was to ensure that the apex bank met genuine customers’ requests in various segments of the market.
 
 
The Guardian.

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