CBN Releases Fresh $210m Into Forex Market

CBN Releases Fresh $210m Into Forex Market

By Tunde Osho

The Central Bank of Nigeria, CBN, has yet again released the sum of $210 million, to meet customers’ requests in the various segments of the foreign exchange market.

The apex bank, in its quest to meet customers’ needs in the forex market, offered $100million to authorized dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment got the sum of $55 million.

Customers in need of foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated the sum of $55 million.

The Bank’s Acting Director, Corporate Communications Department (CCD), Isaac Okorafor, reiterated the Bank’s commitment to sustain its intervention at the interbank foreign exchange market, in tandem with its pledge to sustain liquidity in the market and maintain stability.