CBN pumps US$210m into exchange market

The Central Bank of Nigeria (CBN) has injected $210 million into the various segments of the market to sustain its intervention in the Inter-Bank Foreign Exchange Market.
Mr Isaac Okorafor, CBN Director in charge of Corporate Communications, made this known in Abuja that the apex bank offered $100 million as wholesale interventions and allocated $55 million to Small and Medium Enterprises.
He said that another $55 million was allocated to customers requiring foreign exchange for business and personal travels, tuition or medical fees.
The director explained that the Thursday’s interventions was in continuation of the bank’s resolve to sustain the high level of stability in the foreign exchange market.
According to him, it is also to continue to ease access to the currency by customers in different sectors.
He lauded the actors in various sectors of the market for the level of stability, in spite of the activities of speculators.
Okorafor said that CBN was ready to play its interventionist role in the market.
CBN, in its last interventions earlier in December, injected 299.82 million dollars and 143.60 million Chinese Yuan into the Retail Secondary Market Intervention Sales.
Meanwhile, one United States Dollar exchanged for N360 in the Bureau De Change (BDC) segment of the market on Thursday in Abuja.