The Central Bank of Nigeria (CBN) has again injected $ 210 million into the interbank foreign exchange market. Objective, maintain liquidity in the foreign exchange market, ensure availability and save a weakened national currency.
In detail, the CBN made $ 100 million available to authorized distributors in the wholesale segment, while the small and medium-sized enterprise (SME) segment received $ 55 million and also $ 55 million. dollars for individuals. The central bank ensures that it will continue to intervene in the interbank foreign exchange market in accordance with its desire to maintain liquidity in the market and maintain stability. “The measures taken so far in the management of the foreign exchange market are paying, as evidenced by the reduction of the country’s import bills and the increase in its foreign exchange reserves. The bank notes. As a reminder, on Monday, March 12, the bank injected $ 210 million into the wholesale market segment. The naira also continued its market stability yesterday, trading an average of 360 nairas per dollar on the BDC segment of the market.
