NewsExpress advert Yudala banner
Forex Market gets CBN’s $210m boost

By News Express on 13/02/2018

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

Views: 348

•CBN Headquarters
•CBN Headquarters

The inter-bank Foreign Exchange Market has received the sum of $210 million from the Central Bank of Nigeria (CBN), to meet customers’ requests in various segments of the market. 

In its determination to meet the customers’ needs in the sundry segments of the market, the CBN offered $100 million to authorised dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment got the sum of $55 million, according to figures obtained from the Bank on Monday. The figures also indicated that customers needing foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated the sum of $55 million.

The Bank’s Acting Director, Corporate Communications Department (CCD), Mr. Isaac Okorafor, assured Nigerians that the Bank will continue to intervene in the interbank foreign exchange market, in line with its pledge to sustain liquidity in the market and maintain stability. According to Mr. Okorafor, the CBN will not renege on its promise to manage the forex with a view to reducing the country’s import bills and halting depletion of its foreign reserves.

It will be recalled that last Friday, February 9, 2018, the CBN had again intervened in the Retail Secondary Market Intervention Sales (SMIS) to the tune of $325.64 million to cater for requests in the airlines, agricultural, petroleum products and raw materials and machinery sectors.

Meanwhile, the naira continued its stability in the FOREX market, exchanging at an average of N361/$1 in the BDC segment of the market yesterday.

Source News Express

Posted 13/02/2018 02:42:37 AM

 

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


 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

 

You may also like...
US vows to deny violent Nigerian politicians visa...

Delta Govt. committed to prompt payment of primary...

Boko Haram infiltrates Rivers •320 suspects in police...

I won the Anambra South seat, Ndukwe insists...

Man sentenced to death for claiming to be...

Too much money?: Another Nigerian governor buys N7...

Boko Haram leader roars in new video, says...

Naira sustains gain at parallel market

Snake scare halts work in Benue’s cargo port...

Airtel Nigeria splashes over N4bn free airtime in...

Have you seen Jeffrey Okafor in Nigeria? London...

Post-UTME: 12,904 candidates jostle for 2,260 slots in...

 

Latest News Zuma’s exit: A lesson in party supremacy US speeds up relocation of embassy to Jerusalem, fixes new date Britain offers to help rescue abducted Dapchi schoolgirls Ozubulu Church Massacre: Unknown people threatening my life — Witness Dapchi Girls: Hold Presidency responsible for abduction — PDP •Accuses FG of lying to Nigerians APC crisis: Oyegun meets Buhari over Tinubu’s outburst Woman rescues preteen from kidnap attempt by pretending to be girl’s mother NBTE accredits 11 colleges in Anambra •Govt. prepares to recruit retired teachers Lagos Neighborhood Security arrests 6 cult members for rape Yobe Attack: FG has failed to learn from Chibok — BBOG Presidency confronts Transparency International over poor marks for anti-graft crusade Air safety: Reps to audit all registered aircraft in the country

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (326,715 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (318,623 views) Shameless Genevieve Nnaji exposes breasts in public (255,334 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (209,429 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (195,025 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (188,097 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (163,835 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (147,079 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (140,623 views) Lagos plane crash: Journalist releases victims’ names (129,876 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (128,481 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (123,414 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (34) Business (2,906) Business Verdict (34) Columnists (806) Complaints & Requests (94) Enterprise & Opportunities (203) Entertainment (446) Features (549) Global Business Monitor (226) International (1,805) Interviews (143) Live Commentary (28) Love Matters (105) News (33,092) Opinion (884) Pidgin (10) Politics (4,522) Religion (684) Sports (1,440) Stock Watch (28) AMA & Al Jazeera Global Update

 

 

Football president George Weah puts Liberian army to the test

 

APO Group Partner

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement