CBN Injects $453.3m Into Fx Market

The Central Bank of Nigeria (CBN) on Monday injected $457.3 million into the various segments of the foreign exchange market.

This was made known in a statement signed by the acting director, Corporate Communications at the Central Bank of Nigeria, Isaac Okorafor.

According to Okorafor, the apex bank released $267.3 million to the spot and forwards segments of the market while the wholesale segment got $100 million.

Also, the SME and invisibles segments comprising of basic travel allowance, tuition fee and medical got and $50 million and $40 million respectively.

Commenting on the development, Okorafor, expressed satisfaction with the level of activities in the market.

He also singled out the Investors and Exporters segment, noting that the volume of activities is indicative of the fact that investors are being attracted to the financial market and the economy in general.

Meanwhile the naira remained stable at N385 per dollar in the parallel market.

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