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CBN injects $210m into forex market – Blueprint

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In continuation of its periodic intervention in the foreign
exchange market, the Central Bank of Nigeria (CBN) has injected another sum of
$210 million into the inter-bank foreign exchange market.

The figures released by the CBN  yesterday indicated that authorised dealers in
the wholesale segment of the market received the sum of $100million, while the
Small and Medium Enterprises (SMEs) and the invisibles segments were allocated
the sum of $55 million each.

The Director, Corporate Communications Department at the
CBN, Mr. Isaac Okorafor, who confirmed the figures  restated the Bank’s resolve to always meet
the request of genuine customers in the various segments of the market.

It will be recalled that on Friday, January 25, 2019, the
Bank injected a total sum of $289.76 million into retail Secondary Market
Intervention Sales (SMIS) and CNY38.70 million in the spot and short-tenored
forwards of the inter-bank foreign exchange market.

Meanwhile, the naira on Tuesday, January 29, 2019 continued
to exchange at an average of N360 to a dollar 
in the Bureau De Change (BDC) segment of the market.



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