Forex: CBN Injects Fresh $81.2m
The Central Bank of Nigeria (CBN) on Monday injected $81.2 million into the foreign exchange market.
Mr. Isaac Okorafor, CBN’s Acting Director of Corporate Communications disclosed this in a statement yesterday.
According to Okorafor, the apex bank remains committed to ensuring that there is enough supply of forex to genuine customers to achieve the goal of forex rates convergence.
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The statement reads in part, “A breakdown of the interventions indicates that the bank provided the sum of $44 million to meet customers’ requests for invisibles such as Basic Travel Allowances (BTA), Personal Travel Allowances (PTA), medical bills and tuition fees while the SMEs segment also received a boost of $37.2 million.”
Expressing satisfaction with the current stability in the forex market, the statement reiterated confidence in the ability of the CBN to sustain its interventions in the market.
Meanwhile the Naira on Monday traded at N385 per dollar in the parallel market.
