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Nigerian naira appreciated slightly as market opened on Tuesday despite Central Bank of Nigeria, CBN, massive intervention at the Forex market on Monday.
Table below shows today's (09/05/2017) exchange rate of the Nigerian Naira against the Dollar, Pound and Euro
The Central Bank of Nigeria (CBN) on Monday intervened in the foreign exchange market with $81.2 million, covering invisibles and Small and Medium Enterprises (SMEs) segments.
The intervention, which came on the heels of $389 million offer in the retail segment of the forex market last weekend, showed that the apex bank provided the sum of $44 million to meet customers’ requests for invisibles such as Basic Travel Allowances (BTA), Personal Travel Allowances (PTA), medical bills and tuition fees, among others.
Related: CBN Expresses Satifaction In Naira Rate, Pumps $81.2m Into Forex Market
Table below shows today's (09/05/2017) exchange rate of the Nigerian Naira against the Dollar, Pound and Euro
The Central Bank of Nigeria (CBN) on Monday intervened in the foreign exchange market with $81.2 million, covering invisibles and Small and Medium Enterprises (SMEs) segments.
The intervention, which came on the heels of $389 million offer in the retail segment of the forex market last weekend, showed that the apex bank provided the sum of $44 million to meet customers’ requests for invisibles such as Basic Travel Allowances (BTA), Personal Travel Allowances (PTA), medical bills and tuition fees, among others.
Related: CBN Expresses Satifaction In Naira Rate, Pumps $81.2m Into Forex Market
