Authorized dealers in the wholesale segment of the inter-bank foreign exchange market received the sum of $100 million from the Central Bank of Nigeria (CBN) on Tuesday to meet the needs of customers.

The CBN, also on Tuesday, allocated the sum of $55 million each to the Small and Medium Enterprises (SMEs) and the invisibles segments.

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The figure for the invisibles  was meant for customers requiring it for tuition fees, medical payments and Basic Travel Allowance (BTA) amongst others, a statement from the bank said.

The Director, Corporate Communications at the bank, Isaac Okorafor, reiterated that the bank’s continued intervention in the inter-bank sector was aimed mainly at ensuring adequate liquidity in the market, even as he noted that there was not much pressure on the naira.

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Meanwhile, the naira maintained its steady rate against major currencies around the globe, exchanging for N361/$1 in the BDC segment of the market on Tuesday, October 9, 2018.

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