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CBN boosts FX market with another $210m

PAULETTE ORJIME- Abuja

CENTRAL Bank of Nigeria (CBN) has injected the sum $340, 507, 376.51 into the interbank retail Secondary Market Intervention Sales,following last week’s take-off of its intervention in the sale of foreign exchange in Chinese Yuan (CNY). The figures obtained from the CBN on Friday July 27, showed that the US denominated interventions were only for concerns in the agricultural and raw materials sectors.

CBN boosts FX market with another $210m

COMFORT EKELEME

The Central Bank of Nigeria (CBN) weekend flagged off its intervention in the sale of foreign exchange in Chinese Yuan (CNY), signaling the consummation of the Bilateral Currency Swap Agreement (BCSA) recently signed with the People’s Bank of China (PBoC).

CBN boosts FX market with another $210m

The inter-bank Foreign Exchange Market has received additional $210 million from the Central Bank of Nigeria (CBN), to meet customers’ requests in various segments of the market. The injection of the fresh funds is part of CBN’s regular interventions at stabilizing the foreign exchange market.

CBN boosts FX market with another $210m

COMFORT EKELEME
The Central a Bank of Nigeria (CBN) has disclosed that the external reserve has risen to $33 billion.However, the increases in the foreign exchange reserves are attributable to oil prices increase and relative stability in the Niger Delta.

CBN debunk fire outbreak at head office
 … Naira set for major gain
BY KEVIN EGERUE
In keeping with its determination to increase liquidity in the foreign exchange market, the Central Bank of Nigeria (CBN) yesterday released another $100m into the wholesale forwards segment of the market and pumped an additional $80m into the banks specifically for the settlement of dollar demand for school fees, medicals and Personal Travel Allowance (PTA), among others.
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