The apex financial regulator, Central Bank ofNigeria (CBN), has infused the sum of $195 million, about N70,395,000,000
trillion, into the inter-bank Foreign Exchange Market, reports ITRealms.
CBN on Monday, said its offering $100 million
to authorized dealers in the wholesale sector of the market; the Small and
Medium Enterprises (SMEs) sector got the sum of $50 million. Those requiring
foreign exchange for invisibles such as tuition fees, medical payments and
Basic Travel Allowance, BTA, among others, were allocated the sum of $45
million.
Confirming this, the acting director, Corporate
Communications, Mr. Isaac Okorafor, expressed confident that the level of
transparency CBN has entrenched in the market, stressing it would help the
Naira to sustain its steady run against the dollar and other major currencies
around the world.
“The market will remain very stable as long as
every player sticks to the forex guidelines,” he said.
ITRealms
recollects that the CBN last week also intervened in the various sectors of the
Forex market with the sum of $195 million.
Ayo Midele/GEE
ITREALMS ... everything news digitally!
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