CBN Nigeria administers US$210 million to foreign exchange market

CBN Nigeria administers US$210 million to foreign exchange market

Foreign exchange market recieves US$210m from CBN to ensure stability and sustain liqiudity Central Bank of Nigeria (CBN) added US$210 million to the Inter bank Foreign Exchange Market. This move is in line to ensure availability and meet customers’ request. Mr Isaac Okorafor,  the acting Director, Corporate Communications  said the wholesale division received US$100 million, while Small and Medium Enterprises (SMEs) received US$55 million. Also, 55 million dollars for customers requiring foreign exchange for tuition…

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CBN MADE US$514.4 MILLION IN TWO WORKING DAYS

CBN MADE US$514.4 MILLION IN TWO WORKING DAYS

  CBN sold up to US$514.4 million in two trading days The Central Bank of Nigeria (CBN) in the foreign exchange (forex) market sold up to US$210m last weekend, and US$304.4m yesterday making a total of US$514.4m in two days. Therefore, the local currency has been stable for the past four days, fluctuating around N305 and N305.70 per dollar officially and N360 to N306.37 in the black market.  According to FMDQ OTC security exchange data, yesterdays…

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