CBN Intervenes in Forex Market with Fresh $210m

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The Central Bank of Nigeria (CBN) has made available the sum of $210million, to meet customers’ requests in various segments of the foreign exchange (forex) market.

In its quest to meet customers’ needs in the various segments of the market, the CBN offered $100 million to authorised dealers in the wholesale segment of the market, while the small and medium scale enterprises (SMEs) segment got the sum of $55 million.

According to figures from the Bank yesterday, customers in need of forex for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated the sum of $55 million.

The Bank’s Acting Director, Corporate Communications Department (CCD), Mr. Isaac Okorafor, reiterated the central bank’s commitment to continuous to intervention in the interbank foreign exchange market, in line with its pledge to sustain liquidity in the market and maintain stability.