Business

CBN injects $337m, CNY53m into Inter-Bank Forex Market

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In another round of intervention, the Central Bank of Nigeria (CBN), on Friday, injected over 337 million dollars in the Inter-Bank Foreign Exchange (Forex) market.

The CBN also intervened to the tune of 53.44 million Chinese Yuan in the Spot and Short tenored forwards of the inter-bank foreign exchange market.

The CBN Spokesman, Mr. Isaac Okorafor, in a statement in Abuja said that the move was in furtherance of the Bank’s commitment to ensuring adequate liquidity and stability in the inter-bank foreign exchange market.

It will be recalled that the Bank had on Tuesday injected 210 million dollars in the Inter-Bank foreign exchange market.

Meanwhile, the Naira maintained its steady rate against major currencies around the globe, exchanging for N362 to a dollar in the Bureau De Change segment of the market on Friday.

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Yinusa McBrian Momoh is an enthusiastic individual who believes in the greatest good for the greatest number as well as a creative Wordsmith with interests in Management Training, Research, Content Development and Digital Marketing

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