Forex: CBN Injects $210 Million Into Inter-Bank Market

The Central Bank of Nigeria (CBN) has, again injected another sum of $210 million into the inter-bank foreign exchange market.

According to the figures by the CBN today, Tuesday, authorized 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 of the Corporate Communications Department at the apex bank, Isaac Okorafor, said 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 last week, the bank injected a total sum of $289.76million into retail Secondary Market Intervention Sales (SMIS) and CNY38.70million in the spot and short-tenored forwards of the inter-bank foreign exchange market.

Meanwhile, the naira today, continued to exchange at an average of N360/$1 in the Bureau De Change (BDC) segment of the market.