NewsExpress advert FCMB banner Fidelity bank banner NewsExpress advert
CBN injects another $288m into forex market

By News Express on 25/11/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 551


The Central Bank of Nigeria (CBN) on Friday injected $287.89 into the Retail Secondary Market Intervention Sales (SMIS) in continuation of its resolve to guarantee liquidity in the foreign exchange market.

Data received from the CBN on Friday revealed that the figure was in favour of the agricultural, airlines, petroleum products and raw materials and machinery sectors.

The Bank’s Acting Director, Corporate Communications Department, Isaac Okorafor, confirmed the figures, noting that the releases were targeted at sustaining liquidity in the market as well as boosting
production and trade.

He reiterated that the Bank remained committed to ensuring liquidity in the inter-bank sector of the market and would continue to intervene in order to drive growth in the economy and guarantee stability in the market.

With Friday’s rates hovering around N359 and N360/$1, Okorafor, was upbeat that the Bank’s foreign exchange intervention had effectively checked speculations around the Naira. He, however, disclosed that the Bank would continue to ensure enforcement through utilisation report and market intelligence.

The CBN intervened in the inter-bank Foreign Exchange Market to the tune of $210,000,000, comprising of $100 million for the wholesale segment and $55 million each for the Small and Medium Enterprises
(SMEs) and invisibles segment.

Although the Naira maintained its steady rate against major currencies around the globe, exchanging for N360/$1 in the BDC segment of the market on Friday, there is growing anticipation that the objective of
the CBN to achieve rates convergence might be met before the end of December 2017 through a combination of factors such as Diaspora repatriation of funds and continued accretion to the country’s
reserves.


Source News Express

Posted 25/11/2017 05:32:05 AM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
NELSON MANDELA near death

Security guard docked over alleged theft of employer`s...

Letter to Nnamdi Kanu, By Abdulrazaq Magaji

Five killed, 12 injured in auto crash along...

Irate youths burn President Jonathan’s campaign buses

Money Laundering: Court orders businessman to forfeit $700,000...

Breaking News: Troops kill Boko Haram commanders, rescue...

Thousands march against Boko Haram in Cameroon

Utomi lists gains of cashless banking, tasks ad...

Abia Assembly ready for partnership on empowerment of...

Breaking: Nigeria loses international photo guru Ojeikere

Gunmen kill 9 in Adamawa, abduct 7 children...

 

Latest News U.S. university closed after 100 students fall ill FG Special Investigator spits fire, vows to recover all illegally-acquired funds, properties INEC explains controversy trailing alleged creation of 30,000 polling units 4.3 million children in Nigeria miss out on vaccinations every year — UNICEF Lagos saves n4.5bn from non-sponsorship of religious pilgrimage Trump’s revenge: U.S. oil floods Europe, hurting OPEC and Russia Zakzaky: Police, Shiites clash again in Abuja China to scrap import tariffs on cancer drugs, 27 others Power restored to Lagos community after 9 months outage Vice President Osinbajo commissions The Dome May 11 University of Maiduguri produces 78 First Class graduates Ebonyi to empower 235 spouses of security personnel

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (339,573 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (334,552 views) Shameless Genevieve Nnaji exposes breasts in public (267,716 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (220,146 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (202,053 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (198,057 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (172,797 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (155,147 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (147,080 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (138,968 views) Lagos plane crash: Journalist releases victims’ names (136,854 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (129,543 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (36) Business & Economy (3,067) Business Verdict (40) Columnists (836) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (483) Features (569) Global Business Monitor (264) International (1,924) Interview (149) Live Commentary (28) Love Matters (116) News (34,693) Opinion (916) Pidgin (10) Politics (4,804) Religion (723) Sports (1,484) Stock Watch (28) AMA & Al Jazeera Global Update

 

 

NLNG Science and Literature Prize Awards

 

 

NEWS EXPRESS TV

Boko Haram commanders surrender

 

APO Group Partner

 

 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement