The Central Bank of Nigeria (CBN) has again intervened in the Forex with the injection of $210 million into the inter-bank Foreign Exchange Market.
Figures obtained from the CBN today, July 30, indicated that authorized dealers in the wholesale sector of the market received $100 million, while the Small and Medium Enterprises (SMEs) and the invisibles segments were allocated the sum of $55 million each.
The Director in the Corporate Communications Department of the bank, Isaac Okorafor, said that the efforts of the CBN had helped to ensure the stability of the Naira. He said that it has also increased the level of investors and public confidence in the economy.
It will be recalled that the Central Bank of Nigeria had in the last intervention, on July 26, injected $284.2million and CNY36million into the Retail Secondary Market Intervention Sales (SMIS) segment.
Meanwhile, the Naira today, July 30, exchanged at an average of N358/$1 in the BDC segment of the market.
