The Central Bank of Nigeria (CBN) on Tuesday made available the sum of $210million, to meet customers’ requests in various segments of the inter-bank foreign exchange market.
The CBN, in its quest to meet demands in the various segments of the market offered $100million to authorized dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment got a boost with the sum of $55 million.
According to figures obtained from the Bank on Tuesday, June 26, 2018, customers requesting foreign exchange for invisible such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated the sum of $55 million.
The nation’s currency on Tuesday depreciated by No.46k to close at N361.31k per dollar as against N360.85k traded the previous day at the investors’ and exporters forex window, data from FMDQ indicated.
At the CBN’s official window and the parallel market, naira traded stable at N305.80k and N362 per dollar respectively.
It will be recalled that the Bank last Thursday, June 20, 2018 intervened to the tune of $210 million to cater for requests in the wholesale segment of the forex market.
Meanwhile, the naira continued its stability in the forex market, exchanging at an average of N360/$1 in the BDC segment of the market on Tuesday, June 26, 2018.
