Central bank maintains market liquidity with $195m

 

The Central Bank of Nigeria on Monday continued to maintain liquidity in the Foreign Exchange market by injecting $195 million in the Nigerian inter-bank foreign exchange market.

A statement by the acting Director, Corporate Communications Department of the CBN, Isaac Okorafor, indicated that the apex Bank would continue to increase liquidity to meet genuine forex demand in the market.

Figures released by the Bank showed that it offered $100 million to the wholesale segment, while the Small and Medium Enterprises segment received $50 million.

The invisibles segment, comprising tuition fees, medical payments and Basic Travel Allowance among others, received $45 million.

It will be recalled that the Apex Bank last week Friday intervened in the retail segment of the inter-bank market with $306.3 million.

Meanwhile, the naira, on Monday, exchanged at an average of N364 to a dollar in the parallel market segment.
It also exchanged for N425 to one Euro and N476 to a Pounds Sterling.

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