In another round of intervention, the Central Bank of Nigeria (CBN) on Tuesday injected 210 million dollars into the Inter-bank Foreign Exchange Market to boost liquidity in the system.
The acting Director, Corporate Communications, Mr Isaac Okorafor, in a statement in Abuja, said the CBN allocated 100 million dollars to dealers in the wholesale sector.
He said also the Small and Medium Enterprises (SMEs) segment and Invisibles received 55 million dollars each.
Okorafor said the continued interventions in the interbank foreign exchange market was mainly to ensure sustained liquidity and stability in the market.
According to him, the interventions by the CBN had impacted the market positively and guaranteed a stable exchange rate for the Naira, which has since stabilised the foreign exchange market.
He reiterated that the Bank’s interventions had reduced the country’s import bills and led to accretion to its foreign reserves.
Meanwhile, the naira exchanged at N362 to a dollar in the Bureau De Change segment of the market.
Do You Have Any Story, Press Release, Events Coverage Or You Want An Advert Placement?
Call The DailyBells Nigeria Today On Our Hotlines +234 802 523 7926, +234 806 017 6677 Or WHATSAPP On +234 802 523 7926
Email: firstname.lastname@example.org Or email@example.com.
All Rights Reserved. This Material And Any Other Material On THE DAILYBELLS NIGERIA Should Not Be Reproduced, Published Broadcast, Written Or Distributed In Full Or In Part, Without Written Permission From The Editor/CEO..