Just In: CBN Supplies $210m As Intervention In Forex Market

The Central Bank of Nigeria (CBN) has intervened in the wholesale segment of the foreign exchange market, supplying about $210 million to dealers in that window.

The bank’s Director, Corporate Communications Department, Mr Isaac Okorafor made this known in a statement in Abuja.

Okorafor explained that authorized dealers in the wholesale sector of the market received 100 million dollars, while the Small and Medium Enterprises (SMEs) and the invisible segments were allocated the sum of 55 million dollars each.

He said the efforts of the CBN had helped to ensure the stability of the Naira and also increased the level of investors and public confidence in the economy.

Naija News recalls that CBN had in the last intervention on July 26, injected the sum of 284.2million dollars and CNY36million into the Retail Secondary Market Intervention Sales (SMIS) segment.