News Formal

CBN boosts foreign exchange market with $210m

  • 📰 MobilePunch
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 63%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

The Central Bank of Nigeria has injected $210m into the inter-bank Foreign Exchange Market to ensure adequate supply of foreign exchange to customers.

The CBN Director, Corporate Communications Department, Mr. Isaac Okorafor, in a statement on Tuesday noted that $100m was offered to authorised dealers in the wholesale segment of the market.

He said customers in the Small and Medium Enterprises segment received $55m and those requiring foreign exchange for tuition fees, medical payments and Basic Travel Allowance among others, received $55m. Okorafor reassured the public that the bank would continue to intervene in the interbank Foreign Exchange Market in line with its desire to sustain liquidity in the market and maintain stability.

The CBN on Friday injected 268.4 million dollars and CNY46.3 million into the Retail Secondary Market Intervention Sales segment. Meanwhile, the Naira continued its stability in the Foreign Exchange Market, exchanging at an average of N360 to a dollar in the Bureau de Change segment of the market.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 8. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Politicians need $ naira is too bulky

We all know this is for the elections

Sai Baba

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Forex: CBN Buoys Market With $210mThe Central Bank of Nigeria (CBN) has made a fresh injection of $210 million into the inter-bank foreign exchange market in its determination to boost supply in that sector of the market. Figures released by the Bank on Tuesday, February 19, 2019, indicated that it offered the total sum of $100million to the wholesale segment, […]
Source: LeadershipNGA - 🏆 4. / 77 Read more »

CBN injects $210 million into foreign exchange market - Premium Times NigeriaThe bank says the interventions were in continuation of its resolve to sustain the high level of stability in the foreign exchange market.
Source: PremiumTimesng - 🏆 3. / 78 Read more »

Forex market: CBN provides $268.4m, CNY46.3m for agric, raw materialsA dollar exchanged for N360 at the Bureau de Change (BDC) segment of the foreign exchange market. Election money.🤦🏾‍♂️ And to APC sector How many rural farmers will benefit from this?
Source: PremiumTimesng - 🏆 3. / 78 Read more »