The Central Bank of Nigeria (CBN), on Tuesday, injected $210 million into the inter-bank foreign exchange market to meet customers’ requests in various segments of the economy.
The Acting Director, Corporate Communications, Mr. Isaac Okorafor , said the CBN offered $100 million to authorised dealers in the wholesale segment of the market.
Okorafor said also that the Small and Medium Enterprises (SMEs) segment got $55 million, while another $55 million was allocated for invisibles, which include tuition fees, medical payments and Basic Travel Allowance (BTA).
He said the apex bank would continue to intervene in the interbank foreign exchange market, in line with its pledge to sustain liquidity in the market and maintain stability.
According to Okorafor, the CBN will not renege on its promise to manage the foreign exchange market with a view to reducing the country’s import bills and halt the depletion of its foreign reserves.
The bank, on July 3, intervened to the tune of $210 million to cater for requests in the wholesale segment of the market.
Meanwhile, the naira continued its stability in the foreign exchange market, exchanging at an average of N360 to a dollar in the Bureau De Change window.