CBN injects $210 million into Forex market

$210 million have been injected into the foreign
exchange market
- The injection of the fund was confirmed by the
Central Bank of Nigeria
- According to the CBN, the new intervention will
cater for requests in the wholesale segment of the
Forex market

Central Bank of Nigeria (CBN) has injected 210
million dollars into the foreign exchange market
(Forex) to meet customers’ requests in various
segments, Mr Isaac Okorafor, acting director,
corporate communications says.
In a statement on Tuesday, June 26, in Abuja, he
said 100 million dollars was allotted to
authorised dealers in the wholesale segment of
the market, while the Small and Medium
Enterprises (SMEs) segment got 55 million

dollars.
Okorafor notes that according to the bank’s
figures, customers requesting foreign exchange
for invisibles such as tuition fees, medical
payments and Basic Travel Allowance (BTA),
among others, are also allocated 55 million

dollars.
He recalled that the bank, on Thursday,
intervened with 210 million dollars to cater for
requests in the wholesale segment of the Forex
market.
Meanwhile, the Naira continued its stability in
the foreign exchange market, exchanging at an
average of N360 per dollar in the Bureau De

Change (BDC) segment of the market.