CBN Intervenes in Forex Market with Fresh $210m

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

The CBN in its quest to meet customers’ needs in the various segments of the market offered $100 million to authorised dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment got boosted with the sum of $55 million.

According to figures made available by the CBN yesterday, customers requesting foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated the sum of $55 million.

The CBN had last Tuesday intervened to the tune of $210 million to cater for requests in the wholesale segment of the forex market.

Meanwhile, the naira exchanging at an average of N361/$1 in the BDC segment of the market yesterday.