CBN injects $210m into forex market

The Central Bank of Nigeria has again intervened in the interbank segment of the Foreign Exchange Market with an injection of $210m.

The CBN intervention in the forex market saw the authorised dealers in the wholesale segment of the market offered the sum of $100m, while the Small and Medium Enterprises segment received the sum of $55m.

The sum of $55m was allocated to customers requiring foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance, among others.

Confirming the figures, the Director, Corporate Communications Department, Mr Isaac Okorafor, reaffirmed the bank’s commitment towards ensuring stability in the foreign exchange market.

It would be recalled that at the last intervention on Friday, September 6, 2019, the bank injected the sum of $321.11m and CNY33.3m into the Retail Secondary Market Intervention Sales segment.

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