CBN injects $210 million into Nigerian forex market

The Central Bank of Nigeria (CBN) intervened in the wholesale segment of the foreign exchange market, offering the sum of $100 million to dealers in that window in the latest round of intervention was made public on Tuesday.

The regulatory bank also CBN also made interventions of $55 million each in the Small and Medium Enterprises (SMEs) and Invisibles segments to meet the needs of customers, according to the Director, Corporate Communications Department at the CBN, Isaac Okorafor, who disclosed this in an emailed statement.

It will be recalled that the bank last week also intervened in the wholesale segment of the inter-bank foreign exchange market on Wednesday, November 21, 2018 to the tune of $210 million.

Meanwhile, the naira continued its stable run against the United States dollars on Tuesday, exchanging at an average of N362/$1 in the BDC segment of markets across Lagos and Abuja.