Oyetunji Abioye
The Central Bank of Nigeria on Monday injected another $210m into various segments of the inter-bank foreign exchange market.
This came on the heels of the regulator’s $304.4m Retail Secondary Market Intervention sales in the inter-bank forex market on Friday.
Despite this, the naira closed at 364/dollar at the parallel market on Monday, the same rate the United States greenback traded against the local unit on Friday.
At Monday’s trading, the CBN offered the sum of $100m as wholesale interventions and allocated the sum of $55m to the Small and Medium Enterprises forex window.
Customers requiring forex for Business/Personal Travel Allowances, tuition and medical fees, among others, equally got an allocation of $55m.
The Acting Director, Corporate Communications, CBN, Mr. Isaac Okorafor, confirmed the sales, reiterating that the bank would sustain its…
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