CBN Pumps $210m Into Foreign Exchange

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The Central Bank of Nigeria (CBN) has sustained its intervention in the inter-bank foreign exchange market by injecting 210 million dollars into the various segments of the market.

As received from Punch, the acting Director, Corporate Communications, CBN, Mr Isaac Okorafor, on Tuesday in Abuja, said the apex bank offered 100 million dollars as wholesale interventions and allocated 55 million dollars to Small and Medium Enterprises.

Okorafor said another 55 million dollars was allocated to customers requiring foreign exchange for business and personal travels, tuition or medical fees, among others.

The CBN spokesman said the bank was pleased with the performance of the naira because it had continued to enjoy stability against the dollar and other major currencies of the world in recent times.

He reassured the public that the CBN would continue to intervene in the interbank foreign exchange market to ensure liquidity in the foreign exchange market and maintain stability.

Meanwhile, the naira continued to maintain its strong stand against major currencies around the globe, exchanging for N360 to a dollar in the Bureau De Change segment of the market.


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