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CBN Intervenes In Forex Market With $210m

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The Central Bank of Nigeria (CBN) yesterday intervened in the foreign exchange market with an inflow of $210 million.

It intervened in the wholesale segment of the foreign exchange market, offering the sum of $100 million to dealers.

Figures of the intervention made available yesterday showed that the CBN made interventions of $55 million each in the Small and Medium Enterprises (SMEs) and Invisibles segments to meet the needs of customers.

The director, Corporate Communications Department at the CBN, Mr. Isaac Okorafor,  assured of the apex banks continued mediation in the interbank foreign exchange market in order to guarantee stability.

The bank last week also intervened in the wholesale segment of the inter-bank foreign exchange market on Wednesday, November 21, 2018 to the tune of $210 million.

Meanwhile, the naira continued its stable run against the United States dollars on Tuesday, November 27, 2018, exchanging at an average of N362 to the dollar in the BDC segment of markets across Lagos and Abuja.





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