The Central Bank of Nigeria (CBN) says that the interbank segment of the Foreign Exchange Market received a boost with the allocation of $210 million, following sales concluded on Tuesday.
According to the figures obtained from the CBN, the authorized dealers in the wholesale segment of the market were offered $100 million, while the Small and Medium Enterprises (SMEs) segment received $55 million.
The sum of $55 million was allocated to customers requiring foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance, BTA, among others.
Confirming the figures, the Director, Corporate Communications Department of the CBN, Mr. Isaac Okorafor, reaffirmed the apex bank’s commitment towards ensuring stability in the foreign exchange market.
The CBN noted that at the last intervention on June 7, $294.7 million and CNY31.4 million were into the Retail Secondary Market Intervention Sales (SMIS) segment.
Meanwhile, the Naira on Tuesday exchanged at an average of N360/$1 in the Bureau de Change segment of the market.
GIK/APA