Business
Forex: CBN injects $210 million in Wholesale segment, others
The Central Bank of Nigeria (CBN) has intervened in the wholesale segment of the foreign exchange market, offering the sum of $100 million to dealers in that window. In the latest round of intervention, which was made public on Tuesday, the CBN also made interventions of $55 million each in the Small and Medium Enterprises (SMEs) and Invisibles segments to meet the needs of customers.
The Director, Corporate Communications Department at the CBN, Mr. Isaac Okorafor again assured of the Bank’s continued mediation in the interbank foreign exchange market in order to guarantee stability. It will be recalled that the Bank last week also intervened in the wholesale segment of the inter-bank foreign exchange market on Wednesday, November 21, 2018 to the tune of $210 million.
Meanwhile, the Naira continued its stable run against the United States dollars on Tuesday, November 27, 2018, exchanging at an average of N362/$1 in the BDC segment of markets across Lagos and Abuja
-
Economy2 days agoDubai’s consumer electronics maker, Maser Group to invest $1.6bn in Nigeria, others
-
Oil and Gas2 days agoEdo govt, NNPC partner to establish 10,000bpd condensate refinery
-
Economy2 days agoFG inaugurates OGFZA, NEPZA boards for industrial growth
-
News2 days agoNigeria inaugurates economic strategy to harness $8 trn global halal market
-
Oil and Gas2 days agoOil falls as investors assess US-Iran talks
-
News2 days agoGlobal digital currency, Crypto market capitalization crashes to $2.2trn on extreme fear
-
Stock Market2 days agoNGX hits N110trn as market market capitalisation appreciated by 1.01%