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The Bureau De Change market sold dollars at an average of N362/$1, indicating continued stability of the naira in the Foreign Exchange market on Tuesday.
This came as the Central Bank of Nigeria (CBN), same day boosted the inter-bank Foreign Exchange market with $210 million.
The CBN also offered some $100 million to authorised dealers in the wholesale segment of the market. The Small and Medium Scale Enterprises (SMEs) segment received $55 million while the sum of $55 million was apportioned to invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA).
Isaac Okorafor, CBN Acting Director, Corporate Communications Department, confirmed the figures and reiterated CBN’s capacity to continue to sustain the foreign exchange intervention.
Okorafor urged authorised dealers to help sustain the confidence in the foreign exchange market by continuing to honour requests from customers with genuine needs.
It will be recalled that the CBN last Friday, May 4, 2018 intervened in the Secondary Market Intervention Sales (SMIS) to the tune of $349.34m.
Onyinye Nwachukwu, Abuja
