CBN Injects $365 Million Into The Foreign Exchange Market
The Central Bank of Nigeria, CBN on Thursday, injected more dollars into the foreign exchange market in what may well be the last intervention for year 2018.
The apex bank injected $210 million into the inter-bank sector of the foreign exchange market, the wholesale segment and other sectors of the market.
Figures released by the apex bank on Thursday also indicated that the wholesale sector of the market got another injection of $100 million, while the Small and Medium Enterprises and invisibles sectors each received $55 million.
The Director, Corporate Communications Department, CBN, Mr Isaac Okorafor, said that Thursday’s forex interventions, in continuation of the apex bank’s resolve, were aimed at sustaining the high level of stability in the forex market and continually ease access to the currency by customers in the different sectors.
While lauding actors in various sectors of the forex market for the level of stability, in spite of the activities of the speculators, Okorafor assured that the CBN was ready to play its interventionist role in the market.
Recall that the CBN in its last interventions early in December 2018, injected the sum of $299.82 million and CNY143.60 million into the Retail Secondary Market Intervention Sales.
Meanwhile, one $1 exchanged for 360 naira in the Bureau De Change segment of the market on Thursday.
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