CBN injects $210m into Forex market

The Central Bank of Nigeria has injected another sum of $210 million into the interbank foreign exchange market.

The apex bank said it offered $100 million to authorised dealers in the wholesale segment of the market, while SMEs received the sum of $55 million.

Figures released further indicate that customers requiring foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance among others, were also allocated the sum of $55 million.

CBN acting Director, Corporate Communications Department, Isaac Okorafor, says the Bank would continue to intervene in the interbank foreign exchange market to sustain liquidity in the market and maintain stability.