CBN Releases Fresh $195m Into Forex Market

Godwin Emefiele, CBN Governor

The Nigerian inter-bank Foreign Exchange (Forex) market has continued to enjoy unwavering interventions from the Central Bank of Nigeria (CBN).

This comes as the CBN has just released another $195 million into the inter-bank Forex market.

The Bank, in a statement on Monday by its Acting Director, Corporate Communications Department, Isaac Okorafor, gave a breakdown of its latest intervention as;

** Wholesale segment was offered $100 million.
** The Small and Medium Enterprises (SMEs) segment received $50 million.
**While $45 was offered the invisibles segment comprising tuition, medical payments and Basic Travel Allowance (BTA).

Mr Okorafor further disclosed that due to CBN’s sustained Forex intervention, the international value of the Naira has remained strong exchanging at N363/$1 in the Bureau De Change (BDC) segment of the market.

He assured that the Bank was committed to ensuring Forex liquidity and satisfying legitimate demand.

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