Central Bank Of Nigeria Injects $210 Million Into Forex Market

The Central Bank of Nigeria says it has injected $210 million into the interbank segment of the foreign exchange market.

A CBN spokesperson, Isaac Okorafor, said in a statement on Tuesday.

According to him, the figures released by the apex bank indicated that authorized dealers in the wholesale segment of the market were offered $100 million while the small and medium enterprises segment received $55 million.

Okoroafor added that another $55 million was allocated to customers requiring foreign exchange for invisibles such as tuitions, medical bills and basic travel allowance (BTA), among others.

He said the bank’s commitment towards ensuring stability in the foreign exchange market would be maintained.

The central bank on September 6, injected $321.11 million and  ¥33.3 million into the retail secondary market intervention sales (SMIS) segment.

Meanwhile, N357 exchanged for a dollar at the bureau de change on Tuesday.