The Central Bank of Nigeria (CBN) has injected $210 million into the Nigerian inter-bank foreign exchange market, following transactions concluded on Tuesday.
According to the figures released by the CBN on Tuesday, the apex bank offered $100 million to authorized dealers in the wholesale sector of the market, while the Small and Medium Enterprises (SMEs) and the invisibles segments were allocated $55 million each.
The Director in charge of Corporate Communications at the CBN, Mr. Isaac Okorafor, noted that the CBN Management remained particularly pleased with the prevailing stability in the Nigerian foreign exchange market.
He also reaffirmed the commitment of the central bank to continue to boost interbank foreign exchange market to ensure stability and availability to meet customers’ demand.
At the last intervention by the CBN, $284.2 million and CNY36 million were injected into the Retail Secondary Market Intervention Sales (SMIS) and in the spot and short tenured forwards segments of the foreign exchange market.
Meanwhile, the local currency, the Naira on Tuesday, August 6, exchanged at an average of N358 to $1 in the Bureaux de Change segment of the market.
GIK/APA