Central Bank of Nigeria (CBN) Tuesday boosted the interbank segment of the foreign exchange market with an infusion of $210 million following sales concluded.
Figures obtained from the CBN indicated that authorized dealers in the wholesale segment of the market were again offered the sum of $100million, while the Small and Medium Enterprises (SMEs) window received the sum of $55 million. The sum of $55 million was equally allocated to customers requiring foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others.
ALSO READ: CBN to increase banks’ recapitalisation ― Emefiele
The Director, Corporate Communications Department at the CBN, Mr Isaac Okorafor, confirmed the sales, just as he reaffirmed the Bank’s commitment towards sustaining the level of stability in the foreign exchange market.
It will be recalled that at the last intervention on Friday, July 12, 2019, the Bank injected the sum of $298.7million and CNY39.6million into the Retail Secondary Market Intervention Sales (SMIS) segment.
Meanwhile, the rate of exchange between the Naira and the United States dollars in the BDC segment of the market on Tuesday, July 16, 2019, was N360/$1.
•Says K1 was misunderstood In a significant development for Nigeria’s vibrant Fuji music scene, legendary…
The Nigerian Baptist Convention has expressed satisfaction with the judgment issued by the Oyo State…
All our earthly possessions become useless once we die. Our spiritual condition thereafter becomes our…
We have been looking at small things that have the potential to make a big…
It is evident that Pastor (Dr.) Elijah Oludele Abina, the General Overseer of the Gospel…
In an era where Afrobeats is no longer confined to Africa but commands stages across…
This website uses cookies.