Isaac Okorafor, CBN spokesmanThe Nigerian inter-bank foreign exchange market received another boost of $210 million from the Central Bank of Nigeria (CBN) following transactions concluded yesterday, July 23.
The CBN Director in charge of Corporate Communications, Isaac Okorafor, who made this known today, July 24, said 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.
Okorafor said the bank’s Management is happy with the prevailing stability in the Nigerian foreign exchange market, adding that there has been continued stability in the foreign exchange market and the steady accretion to country’s external reserves.
The spokesman said that the CBN would also continue its intervention in the forex market to ensure liquidity, maintain stability and meet customers’ demand.
At the last bank trading, the sum of $298.7 million and CNY39.6 million were injected into the Retail Secondary Market Intervention Sales (SMIS) and on the spot and short tenured forwards segments of the foreign exchange market.
Meanwhile, the Naira today, July 24, exchange at an average of N357/$1 in the BDC segment of the market.
