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CBN Pumps Fresh $195m (£150m) into Forex Market

Forex Market

The Central Bank of Nigeria (CBN) Wednesday intervened in various segments of the inter-bank market to the tune of $195 million (£150 million).

A breakdown of the intervention revealed that authorised dealers in the wholesale window segment received a $100 million (£77 million) offer from the bank, while the Small and Medium Enterprises (SMEs) and invisibles windows were allocated the sums of $50 million (£38 million) and $45 million (£34 million) respectively.

The bank’s acting Director, Corporate Communications Department, Mr. Isaac Okorafor, confirmed the figures and disclosed that the bank was impressed by the high level of transparency exhibited by stakeholders in the market.

Paul

The author Paul