CBN Boosts Forex Market With Injection Of  $210 Million 

The Central Bank of Nigeria (CBN) has boosted the Foreign Exchange Market With the injection of $210million, to meet customers’ requests in various segments of the market.

It explained that in quest to meet demands in the various segments of the market, it offered $100 million to authorized dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment got boosted with the sum of $55 million.

According to figures obtained from the Bank on Tuesday, June 26, 2018, customers requesting foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated the sum of $55 million.

It will be recalled that the Bank last Thursday, June 20, 2018 intervened to the tune of $210 million to cater for requests in the wholesale segment of the forex market.

Meanwhile, the naira continued its stability in the FOREX market, exchanging at an average of N360/$1 in the BDC segment of the market on Tuesday, June 26, 2018.