CBN injects fresh rounds of funds into Inter-Bank Forex Market

In another round of intervention, the Central Bank of Nigeria, on Friday, injected over $337m into the Inter-Bank Foreign Exchange (Forex) market.

The CBN also intervened to the tune of 53.44 million Chinese Yuan in the Spot and Short tenured forwards of the inter-bank foreign exchange market.

The CBN spokesman, Mr. Isaac Okorafor, in a statement in Abuja said that the move was in furtherance of the bank’s commitment to ensuring adequate liquidity and stability in the inter-bank foreign exchange market.

It will be recalled that the Bank had on Tuesday injected 210 million dollars in the Inter-Bank foreign exchange market.

Meanwhile, the Naira maintained its steady rate against major currencies around the globe, exchanging for N362 to a dollar in the Bureau De Change segment of the market on Friday.

Credit: NAN