Featured Finance

Forex: Inter-bank market gets another $210m boost

By Thompson ABISOLA

The Central Bank of Nigeria (CBN), says authorised dealers  received 100 million dollars from the bank on Tuesday as part of its intervention in the wholesale segment of the inter-bank foreign exchange market.

The Director, Corporate Communications, Isaac Okorafor,  made this known in a  statement in Abuja.

According to him, the intervention is to enable the market to meet the requests of its customers.

He said that the CBN also allocated 55 million dollars each to the Small and Medium Enterprises (SMEs) and the invisibles segments, comprising requests for tuition fees, medical payments and Basic Travel Allowance (BTA), among others.

Okorafor said that the CBN would continue to intervene in the country’s interbank foreign exchange market, adding that the Bank’s management remained committed to ensuring stability in the market through liquidity.

The statement recalled that the Bank had made interventions totaling more than 547 million dollars in October in the wholesale and retail Secondary Market Sales (SMIS).

Okorafor also said that the Naira, on Tuesday,  exchanged at an average of N362 to one dollar in the Bureau De Change (BDC) segment of the market.

Related posts

Airlines say removal of 7 per cent surcharge on imported aircraft; spares in effect

Our Reporter

Shutting down all Nigeria Varsities over elections illegal, inappropriate – Afe Babalola

Editor

Brazilian soccer legend Pele dies at 82

Our Reporter

Senate appeals to FG to ban importation of textile for 5 years

Aliyu DANLADI

Association calls for review of funding for MSME

Editor

Travellers groan as summer fares spike 200%, N1m per economy seat

Our Reporter