Forex: CBN injects $210m in wholesale segment, others

Forex: CBN injects $210m in wholesale segment, others
November 27 23:33 2018

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By Ibrahim Abubakar 

The Central Bank of Nigeria (CBN) on Tuesday, November 27, 2018, intervened in the wholesale segment of the foreign exchange market, offering the sum of $100 million to dealers in that window.

In the latest round of intervention, which was made public on Tuesday, the CBN also made interventions of $55 million each in the Small and Medium Enterprises (SMEs) and Invisibles segments to meet the needs of customers.

The Director of Corporate Communications Department at the CBN, Mr. Isaac Okorafor, again assured of the bank’s continued mediation in the interbank foreign exchange market in order to guarantee stability.

It will be recalled that the bank last week also intervened in the wholesale segment of the inter-bank foreign exchange market on Wednesday, November 21, 2018 to the tune of $210 million.

Meanwhile, the Naira continued its stable run against the United States dollars on Tuesday, November 27, 2018, exchanging at an average of N362/$1 in the BDC segment of markets across Lagos and Abuja.