NewsExpress advert FCMB banner Fidelity bank banner NewsExpress advert
Forex: CBN boosts market with $325.64m

By News Express on 10/02/2018

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

Views: 443

•CBN Governor Emefiele
•CBN Governor Emefiele

The Central Bank of Nigeria (CBN) has again intervened in the Retail Secondary Market Intervention Sales (SMIS) to the tune of $325.64 million.

Figures obtained from the bank on Friday indicate that the amount released was for requests in the agricultural, airlines, petroleum products and raw materials and machinery sectors.

The figures were confirmed by the Bank’s Acting Director in charge of Corporate Communications, Mr. Isaac Okorafor, who noted that the continued intervention were in line with the assurances made by the Governor, Godwin Emefiele, to sustain market liquidity in order to boost production and trade.

According to Okorafor, the feedback from the wholesale and retail segments of the Nigerian Forex markets showed that customers were satisfied with their level of access to foreign exchange. He said the degree of optimism displayed by all players underscored the fact that everyone was happy with the level of transparency in the market.

Speaking further, Okorafor assured that, with the recession now over and foreign reserves now standing at $42 billion, the CBN had enough in its arsenal to maintain the international value of the Naira as well as guarantee access to forex by those requiring it to meet genuine needs.

He also reiterated that the desire of the bank to ensure that all, particularly low end users, had access to foreign exchange to meet genuine needs prompted the Bankers’ Committee, in its first meeting of 2018, to agree to sell United States dollars to those requiring it for invisibles at the rate of N360/$1, without any commission whatsoever.

It would be recalled that CBN in its last SMIS, in January 2018, injected the sum of $304.4 million in the inter-bank Foreign Exchange Market.

Meanwhile, the naira exchanged at N361/$1 in the BDC segment of the market on Friday.

 

Source News Express

Posted 10/02/2018 01:10:34 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...
Senate President declares ban, categorisation of IPOB as...

Captains shine in Gabon 2017 AFCON opening game...

Breaking News: Nigerian military reacts to new ‘Shekau’...

Group appeals to Govt., media owners over non-payment...

Etisalat launches new tariff offer

Sacred Cow: Wife of Nigerian Immigration Comptroller General...

Military dismisses reports about Boko Haram comeback •Alerts...

Fraud: Trial of ex-governor Lamido and sons begins...

Thousands arrested in raids by South African Police...

Taraba, WHO, to vaccinate 800,000 children against Measles...

808 people killed in Southern Kaduna attacks —...

Edo Police to clamp down on Persons Disguised...

 

Latest News Fighting corruption corruptly, By Achilleus-Chud Uchegbu Understanding the process of buying property in Lagos, By Olusola Oduleye Biafra: Army, Police, DSS swoop on MASSOB members PDP Campaign Funds: Court remands Shagari, 4 others in custody over alleged N500m fraud Flood imminent in 5 Kaduna councils – Environmental Agency Catholics protest killing of priests, worshipers FG saves N120bn by checking ghost workers IGP-Senate Faceoff: Buhari meets Senate delegation in Aso Rock Gunmen kidnap wife, children of Zamfara commissioner Activists launch campaign to break up Facebook Ugwuanyi nominates new commissioner Ondo Deputy Speaker, Ogundeji impeached

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (345,300 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (341,992 views) Shameless Genevieve Nnaji exposes breasts in public (273,407 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (224,762 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (205,204 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (202,779 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (176,948 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (159,248 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (150,197 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (143,435 views) Lagos plane crash: Journalist releases victims’ names (140,020 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (132,400 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (41) Business & Economy (3,146) Business Verdict (43) Columnists (853) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (497) Features (598) Global Business Monitor (274) International (1,968) Interview (149) Live Commentary (28) Love Matters (120) News (35,504) Opinion (959) Pidgin (10) Politics (5,044) Religion (743) Sports (1,516) Stock Watch (29) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

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