Forex: Wholesale segment, others get $210m boost

Browse By

Spread the love

Authorized dealers in the wholesale segment of the inter-bank foreign exchange market received the sum of $100million from the Central Bank of Nigeria (CBN) on Tuesday, to meet the needs of customers.

The CBN also on Tuesday allocated the sum of $55million each to the Small and Medium Enterprises (SMEs) and the invisibles segments.

The figure for the invisibles was meant for customers requiring it for tuition fees, medical payments and Basic Travel Allowance (BTA) amongst others.

The Director, Corporate Communications at the Bank, Isaac Okorafor, reiterated that the Bank’s continued intervention in the inter-bank sector was aimed mainly at ensuring adequate liquidity in the market, even as he noted that there was not much pressure on the naira.

POST RECOMMEND FOR YOU   Court Dismisses Ajumogobia's Fundamental Rights Suit Against EFCC

Meanwhile, the naira maintained its steady rate against major currencies around the globe, exchanging for N361/$1 in the BDC segment of the market on Tuesday, October 9, 2018.

Also Read

CNPP Welcomes President Buhari, Calls for Better G... The Conference of Nigeria Political Parties (CNPP) has welcomed President Muhammadu Buhari back to the country after 103-day medical leave. The umbre...
28 Dead in Bloodiest Burkina Faso Terror Attack As many as 28 people may have died in the terrorism attacks today at the French embassy in Burkina Faso and the country’s military headquarters, befor...
Osinbajo Redeploys Federal Permanent Secretaries Nigeria’s Acting President, Professor Yemi Osinbajo has approved the redeployment of some Federal Permanent Secretaries. The affected permanent sec...
Mama Taraba Drums Support for Buhari At UN By Ifeanyi Emeka The Minister of Women Affairs and Social Development, Senator Aisha Jummai Alhassan has used the occasion of the ongoing 62 sessio...
Air Peace Working to Link Nigerian Cities By Air &... The Chairman and Managing of Air Peace, Mr Allen Onyema made the pledge at Yola Airport during the launch of Lagos-Abuja-Yola, Abuja-Yola-Abuja servic...

Leave a Reply

Your email address will not be published. Required fields are marked *