The Central Bank of Nigeria has continued its sustenance of its foreign exchange (forex) liquidity by injecting another $195 million into the interbank forex market, even as the naira maintains its strength.
The $195 million intervention was made monday.
Figures released by the bank showed that it offered the total sum of $100 million to the wholesale segment, while the small and medium enterprises (SMEs) segment received the sum of $50 million. The invisibles segment comprising tuition, medical payments and Basic Travel Allowance (BTA) received $45 million.
The Bankâ€™s acting Director, Corporate Communications Department, Mr. Isaac Okorafor, said that the intervention was in line with the CBNâ€™s continual determination to ensure forex liquidity and satisfy legitimate demand.
Okorafor assured that the Bank would continue to intervene in the nationâ€™s forex market in order to sustain the liquidity in the market and guarantee the international value of the naira.
Meanwhile, the naira exchanged at an average of N363/$1 in the Bureau De Change segment of the market yesterday, maintaining its stability in the forex market.