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CBN injects $210m into forex market, and Nigeria maintains earn

CBN injects $210m into forex market, and Nigeria maintains earn. As it stated in The nation’s currency on Monday maintained gains over the U.S dollars as the Central Bank of Nigeria (CBN), injected another sum of $210 mn into the inter-bank Foreign interchange Market, in its desire to sustain liquidity in the forex market, and thereby ensuring which forex Information Systems obtainable for customers’ needs in several segments of…Log In Subscribe This content Information Systems for level and Premium Digital Subscribers only.

CBN sustains liquidity in forex market by $210 million

According to the figures obtained from the CBN yesterday, the bank offered $100 mn to authorised dealers in the wholesale segment of the market, When the Small & Medium Enterprises (SMEs) segment received $55 million.
Customers requiring foreign interchange for invisibles like tuition fees, medicinal payments & basic Travel Allowance (BTA), between others, were too allocated $55 million. Last Monday, the bank injected $210m into the wholesale segment of the forex market.The naira too yesterday continued its stability in the Forex market, interchanging at an average of N360/$1 in the BDC segment of the market. Meanwhile, the Senate yesterday screened nominees for the position of deputy governors of the Central Bank of Nigeria (CBN) & members of the Monetary Policy Committee (MPC).The nominees for the CBN deputy governors are Aisha Ahmad & Edward Adamu. It raised the block final 7 days to monitor the nominees in consideration of the importance tied to their roles in the economy.

 

CBN
CBN

 

CBN boosts forex market by $210m

As informed in WorldStage Newsonline– The Central Bank of Nigeria (CBN), has injected another sum of $210 mn into the inter-bank Foreign interchange Market, in its desire to sustain liquidity in the forex market, & thereby ensuring which forex Information Systems obtainable for customers’ needs in several segments of the market. According to the figures obtained from the CBN on Monday, March 19, 2018, the Bank offered $100million to authorized dealers in the wholesale segment of the market, When the Small & Medium Enterprises (SMEs) segment received the sum of $55 million. Customers requiring foreign interchange for invisibles like tuition fees, medicinal payments & basic Travel Allowance (BTA), between others, were too allocated the sum of $55 million. The bank which final Monday injected the sum of $210 into the Wholesale segment of the forex market. Meanwhile, the naira continued its stability in the FOREX market, interchanging at an average of N360/$1 in the BDC segment of the market on Monday, March 19, 2018.

CBN injects $210m into forex market

The Central Bank of Nigeria has injected another sum of $210m into the inter-bank foreign interchange market. The lender told the forex discound was aimed at sustaining liquidity in the forex market, & making forex obtainable for customers’ needs in several segments of the market. Customers requiring forex for invisibles like tuition fees, medicinal payments & basic Travel Allowance, between others, were too allocated the sum of $55m. The Acting Director, Corporate Communications, CBN, Mr. Isaac Okorafor, When approving the figures, reassured the public which the bank would still to intervene in the interbank forex market in line by its desire to sustain liquidity in the market & maintain stability. Meanwhile, the naira continued its stability in the forex market, interchanging at an average of N362/$1 in the Bureau de Change segment of the market on Monday.

CBN
CBN

 

collected by :kiven Dixter

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