Forex: CBN injects $210m in wholesale segment, others

The Central Bank of Nigeria (CBN) on Tuesday intervened in the wholesale segment of the foreign exchange market, offering the sum of $100 million to dealers in that window.

The CBN also made interventions of $55 million each in the Small and Medium Enterprises (SMEs) and Invisibles segments to meet the needs of customers.

The Director, Corporate Communications Department at the CBN, Mr. Isaac Okorafor, again assured of the bank’s continued mediation in the interbank foreign exchange market in order to guarantee stability.

It would be recalled that the Bank last week also intervened in the wholesale segment of the inter-bank foreign exchange market on Wednesday, November 21, to the tune of $210 million.

Meanwhile, the Naira continued its stable run against the United States dollars on Tuesday, exchanging at an average of N362/$1 in the BDC segment of markets across Lagos and Abuja.