CBN offers $100m in wholesale forwards

The Central Bank of Nigeria (CBN) on Thursday, April 27, 2017, offered the sum of $100 million to authorized dealers to meet the requests of wholesale customers at the forex auction in the interbank wholesale window.
The Acting Director, Corporate Communications Department at the CBN, Mr.Isaac Okorafor who disclosed this said that no intervention was made in the retail window in Thursday’s auction.
He, however, disclosed that the Bank continued its weekly sale of forex to the Bureau de Change (BDC) segment to meet the needs of low-end users.
He furthermore said that the CBN had observed that quite a good number of dealers were adhering to the forex guidelines. Nevertheless, he said the CBN will continue to monitor the activities of authorized dealers to ensure that no outfit or individual circumvents the laid down forex rules.
While urging all concerned to put the Nigerian economy first, he reiterated that the CBN was determined to guarantee the international value of the naira.
Meanwhile the Naira sold at N380/$1.Abuja and Lagos on Thursday