Business
CBN injects $210m into forex market
The Central Bank of Nigeria (CBN) has made available the sum of $210million, to meet customers’ requests in various segments of the foreign exchange market. In its desire to meet customers’ needs in the various segments of the market, the CBN offered $100million to authorised dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment got boosted with the sum of $55 million.
According to figures obtained from the Bank on Wednesday, 20th June, 2018, customers needing foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated the sum of $55 million.
It will be recalled that the Bank last Thursday, June 14, 2018 intervened to the tune of $343.06 million to cater for requests in the retail segment of the forex market. Meanwhile, the naira continued its stability in the FOREX market, exchanging at an average of N360/$1 in the BDC segment of the market on Wednesday, June 20, 2018.
-
Oil and Gas2 days agoDangote refinery drops PMS to ₦1,165/Litre, diesel to ₦1,570/litre
-
News2 days ago85m Nigerians still lack access to grid electricity—REA
-
News2 days agoRecapitalised insurers get NAICOM new licence certificates
-
News14 hours agoSpaceX insiders get their first chance to cash out — but the stock’s slide will limit their opportunity
-
Economy14 hours agoAfrican free trade agency taps Nigerian firm for $3.1bn customs overhaul project
-
Finance14 hours agoNigeria’s plan to tax crypto transactions could undermine adoption–operators
-
Economy14 hours agoUNCTAD estimates Nigeria’s FDI inflow rose from $1.614bn in 2024 to $4.005bn in 2025
-
Finance2 days agoCrown Takaful shares N100m to customers