The interbank segment of the Foreign Exchange Market has received a fresh boost of $210 million from the Central Bank of Nigeria (CBN), following sales concluded on Tuesday.
According to the figures released by the CBN, the authorized dealers in the wholesale segment of the market were offered $100 million, while the Small and Medium Enterprises (SMEs) window 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.
The Director, Corporate Communications Department at the CBN, Mr. Isaac Okorafor, confirmed the sales and reaffirmed the bank’s commitment towards sustaining the level of stability in foreign exchange market.
It will be recalled that at the last intervention on Friday last week, the CBN injected $298.7 million and CNY39.6 million into the Retail Secondary Market Intervention Sales (SMIS) segment.
Meanwhile, the rate of exchange between the Naira and the United States dollars in the Bureau De Change segment of the market on Tuesday, was N360/$1.
GIK/APA