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The Central Bank of Nigeria (CBN) on Monday boosted the forex market by offering a total of $195 million in three segments of the market.
In the wholesale segment of the inter-bank Foreign Exchange market, it auctioned $100 million and also intervened in the Small and Medium Enterprises (SMEs) and invisible segments, with the sum of $50 million and $45 million respectively.
The Acting Director, Corporate Communications Department, Isaac Okorafor, said that during this season when there are pressures on the market from those seeking forex for school fees and vacations.
He said the bank has kept faith with its resolve to ensure that there is sustained liquidity in the market and ensure that genuine requests for forex are met, as well as improve liquidity and flexibility in the market.
In the wholesale segment of the inter-bank Foreign Exchange market, it auctioned $100 million and also intervened in the Small and Medium Enterprises (SMEs) and invisible segments, with the sum of $50 million and $45 million respectively.
The Acting Director, Corporate Communications Department, Isaac Okorafor, said that during this season when there are pressures on the market from those seeking forex for school fees and vacations.
He said the bank has kept faith with its resolve to ensure that there is sustained liquidity in the market and ensure that genuine requests for forex are met, as well as improve liquidity and flexibility in the market.
