Fidelity bank banner Bayelsa State banner
CBN injects $210m into FOREX Market

By News Express on 25/04/2018

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

Views: 549

•CBN Spokesman Isaac Okorafor
•CBN Spokesman Isaac Okorafor

The Central Bank of Nigeria (CBN) has stepped into the inter-bank sector of the Foreign Exchange market, yet again, intervening in the wholesale segment and other sectors of the market to the tune of $210 million.

Figures released by the Bank on Tuesday reveal that the wholesale sector of the market got another injection of $100 million, just as the Small and Medium Enterprises (SMEs) and invisibles sectors each received $55 million.

Confirming the figures, the Acting Director, Corporate Communications Department at the CBN, Mr. Isaac Okorafor, said that Tuesday’s interventions, like the previous intermediations, were in line with the Bank’s commitment to sustain the high level of stability in the Forex market and continually ease access to the currency by those requiring it for genuine activities.

Okorafor, while commending the role of every player in the market, said the CBN was ready to inject funds into the market, whenever and wherever necessary, in order to maintain market stability as well as sustain the financial system. 

He also said the financial regulator was further buoyed by recent gains in the foreign exchange sector, which had seen the country’s reserves soar closer to the $50 billion mark. Speaking further, Okorafor said the country’s reserves continued to enjoy accretion, adding that the status of the present reserve at the Bank meant that the CBN was capable of sustaining foreign exchange liquidity in the system.

Tuesday’s intervention came as one United States Dollar (US$1) exchanged for N361 in the Bureau De Change (BDC) segment of the market.

Meanwhile, it will be recalled that the CBN in its last interventions on Friday, April 20, 2018, injected the sum of $396.18million into the Retail Secondary Market Intervention Sales (SMIS).

Source News Express

Posted 25/04/2018 04:07:40 AM

 

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


 

CLASSIFIED ADS

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

 

You may also like...
Honda recalls fresh 784,000 vehicles over faulty Takata...

Kidnapping: Ambode convenes emergency Security Council meeting, assures...

El-Rufai warns against reprisals, assures victims’ families of...

Over 400 Fulanis convert to Christianity

FG brings forward ceremonies marking 2016 World Day...

New book, ‘Ladies Calling the Shots’, pays tribute...

Leah Sharibu’s brother relocated to US following mother’s...

Corruption: Court affirms ICPC’s powers to investigate anybody...

Militants who bombed oil pipeline fall into security...

GTB seeks redemption of $500m Eurobond •Listed among...

APC: A flash in the pan?

Presidency cancels this week’s FEC meeting

 

Latest News R-APC will leave APC, with or without Saraki – Baraje PDP chieftain shot dead in Lagos during meeting Police dismiss 4 SARS operatives for robbery, other crimes Boko Haram invades Chad, slaughters 18, kidnaps 10 women Dasuki: ‘Buhari misled by northern cabals’ Police arrest five PDP chieftains over killing of LG chairman JAMB remits N7.8bn as examination surplus Dickson urges stronger unity in Osun PDP before guber polls Fears of arrest, abuse by Govs may kill State Police Bill – Sen. Ibrahim 2018 Budget: Minister replies HEDA’s FOI request on inserted projects ICPC, YAF convene anti-corruption summit in Abuja New National Carrier: NCAC chief admonishes FG against free tickets to politicians, govt. officials

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (363,949 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (359,385 views) Shameless Genevieve Nnaji exposes breasts in public (287,828 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (236,118 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (215,572 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (213,056 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (187,230 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (169,227 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (156,646 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (153,427 views) Lagos plane crash: Journalist releases victims’ names (148,196 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (139,275 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (52) Business & Economy (3,365) Business Verdict (48) Columnists (890) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (516) Features (616) Global Business Monitor (286) International (2,160) Interview (159) Live Commentary (28) Love Matters (127) News (37,359) Opinion (1,024) Pidgin (10) Politics (5,652) Religion (790) Sports (1,613) Stock Watch (33) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Nigerian detainees send SOS from Osama prison

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement