The Central Bank of Nigeria, CBN, says it injected $210 million into Nigerian Inter-Bank Foreign Exchange market following conclusion of Tuesday’s transactions.
Disclosing this in a statement on Tuesday, the Director, Corporate Communications Department, Isaac Okorafor, explained that the figure released by the apex bank indicated that the bank offered 100 million dollars to authorised dealers in the wholesale sector of the market.
He said the Small and Medium Enterprise, SMEs, and the invisible segments were allocated the sum of 55 million dollars each.
He further stated that the management of apex bank remained particularly pleased with the prevailing stability in the Nigerian foreign exchange market.
The director reaffirmed the bank’s commitment to continue to boost inter-bank foreign exchange market, to ensure stability and availability to meet customers demand.
Last week, the bank injected $284.2 million and CNY36 million into the Retail Secondary Market Intervention Sales, SMIS, and in the spot and short tenured forwards segments of the foreign exchange market’’.
Meanwhile, the Naira on Tuesday, Aug. 6, exchanged at an average of N358 to a dollar in the Bureau De Change, BDC, segment of the market.