The Central Bank of Nigeria (CBN) Monday pushed a total of $195million into the inter-bank foreign exchange market, with the naira remaining unchanged at N363 against the dollar.
CBN had Tuesday, last week, intervened in the inter-bank forex market with the sale of $195million.
Figures released by the bank showed that the sum of $100million was offered to the wholesale segment, while the Small and Medium Enterprises (SMEs) segment received $50million.
The invisibles segment, comprising tuition fees, medical payments and Basic Travel Allowance (BTA), among others, received $45million.
Acting Director, Corporate Communications Department, Mr. Isaac Okorafor, said in a statement that the injection was in line with the CBN’s pledge of making the forex market liquid.
Okorafor reiterated that the bank remained determined to achieve its objective of rates convergence, hence the consistent intervention in the foreign exchange market.
He urged Deposit Money Banks to only honour requests from customers with genuine needs, saying the bank “does not intend to falter in its pledge to ensure liquidity in the forex market.”
The naira recorded a marginal gain on Wednesday last week, closing at N363 per dollar from 364/dollar weekend.
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