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CBN Releases Fresh $195m Into Forex Market

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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).

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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.