CBN Boosts Foreign Exchange Market With $210m
The Central Bank of Nigeria (CBN) has provided fresh 210 million dollars to meet customers’ requests in various segments of the foreign exchange market.
The Bank’s Acting Director, Corporate Communications Department, Mr Isaac Okoroafor in a statement in Abuja, said that 100 million dollars was offered to authorized dealers in the wholesale segment of the market.
Okorafor said that the Small and Medium Enterprises (SMEs) segment got 55 million dollars, while customers in need of foreign exchange for tuition fees, medical payments and Basic Travel Allowance (BTA), were allocated 55 million dollars.
Okorafor reiterated the CBN’s commitment to continuous intervention in the interbank foreign exchange market, in line with its pledge to sustain liquidity in the market and maintain stability.
He said that the CBN would continue to strategically manage the foreign exchange market with a view to reducing the country’s import bills and halting depletion of its foreign reserves.
On February 12, the CBN had intervened to the tune of 210 million dollars to cater to requests in the various segments of the market.