The Central Bank of Nigeria (CBN) has again, injected the sum of $205 million into the inter-bank Foreign Exchange Market, in its continued push to sustain liquidity in the sector.
Figures obtained from the apex bank indicated that authorized dealers in the wholesale segment of the market were offered the sum of $100 million, while the Small and Medium Enterprises (SMEs) segment received the sum of $55 million. The sum of $50 million was allocated to customers requiring foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others.
Speaking on the development in Abuja today, Tuesday, the bank’s Director of Corporate Communications, Isaac Okorafor, said that the bank’s effort had helped to guarantee stability in all the exchange rate windows.
He said that the dogged implementation of the country’s foreign exchange restriction to some 43 items had boosted activities in the industrial sector even as he added that the move had equally increased the level of confidence investors and the public had in the Naira.
It will be recalled that at the last intervention, the bank injected the sum of $268.6million and CNY29.2million into the Retail Secondary Market Intervention Sales (SMIS) segment.
Meanwhile, the Naira today, Tuesday, May 28, exchanged at an average ofN361/$1 in the BDC segment of the market.
