CBN injects $210million into forex market …As Naira appreciates to 360.55 per dollar

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CBN injects $210million into forex market

.As Naira appreciates to 360.55 per dollar

By Udeme Clement

The inter-bank foreign exchange market yesterday received a big boost, as the Central Bank of Nigeria, CBN, injected $210 million into the market, as part of its intervention aims at boosting liquidity in the market.

The Naira also appreciated to 360.55 per dollar on investments and exports window, following the apex bank intervention in the market.

The apex bank explained that authorised dealers in the wholesale segment of the market received $100 million.

Also, the Small and Medium Enterprises, SMEs, segment received $55 million from the intervention.

More so, the statement from the CBN spokesperson, Isaac Okorafor restated apex bank’s commitment to continue boosting inter-bank foreign exchange market, in order to ensure liquidity and stability in that segment of the market.

 

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