FOREX: CBN maintains market liquidity with $195m

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The Central Bank of Nigeria (CBN) on Monday continued to maintain liquidity in the Foreign Exchange (FOREX) market by injecting 195 million dollars in the the Nigerian inter-bank foreign exchange market.

A statement by the acting Director, Corporate Communications Department of the CBN, Mr Isaac Okorafor indicated that the apex bank would continue to increase liquidity to meet genuine forex demand in the market.

Figures released by the Bank shows that it offered a total sum of 100 million dollars to the wholesale segment, while the Small and Medium Enterprises (SMEs) segment received 50 million dollars.

The invisibles segment, comprising tuition fees, medical payments and Basic Travel Allowance (BTA), among others, received 45 million dollars.

It will be recalled that the Apex Bank last week Friday intervened in the retail segment of the inter-bank market with 306.3 million dollars.

Meanwhile, the naira, on Monday, exchanged at an average of N364 to a dollar in the parallel market segment.

It also exchanged for N425 to one Euro and N476 to one Pound Sterling. (NAN)

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