The Central Bank of Nigeria (CBN) on Tuesday boosted the interbank segment of the Nigerian foreign exchange market with USD$210 million
This was disclosed by the CBN Director of Corporate Communications Department, Mr. Isaac Okorafor, in a statement in Abuja.
According to him, the authorized dealers in the wholesale segment of the market got an intervention of $100 million. While the CBN intervened in the Small and Medium Enterprises (SMEs) window with the sum of $55 million.
$55 million was also allocated to customers requiring FX for Form A processing. This includes Medical bills payments, School Fees payments including Personal Travel Allowance (PTA) and Business Travel Allowance (BTA)
The director said that the bank was committed to sustaining the level of stability in foreign exchange market.
The News Agency of Nigeria (NAN) reports that the CBN, July 12, injected 298.7 million dollars and CNY39.6 million into the Retail Secondary Market Intervention Sales (SMIS) segment.
The naira was N360 to the dollar at the Bureau De Change (BDC) segment on Tuesday.