CBN injects $337m, CNY53m into Inter-Bank Forex market

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In another round of intervention, the Central Bank of Nigeria, CBN, on Friday, injected over 337 million dollars in the Inter-Bank Foreign Exchange, Forex market.

The CBN also intervened to the tune of 53.44 million Chinese Yuan in the Spot and Short tenored forwards of the inter-bank foreign exchange market.

The CBN spokesman, Isaac Okorafor, in a statement in Abuja said that the move was in furtherance of the Bank’s commitment to ensuring adequate liquidity and stability in the inter-bank foreign exchange market.

It will be recalled that the Bank had on Tuesday injected 210 million dollars in the Inter-Bank foreign exchange market.

Meanwhile, the naira maintained its steady rate against major currencies around the globe, exchanging for N362 to a dollar in the Bureau De Change segment of the market on Friday.

NAN