The Central Bank of Nigeria on Tuesday injected $210m into the foreign exchange market to meet customers’ requests in various segments of the market.
The CBN said it offered $100m to authorised dealers in the wholesale segment of the market, while the Small and Medium Enterprises segment got $55m.
It said customers requesting forex for invisibles such as tuition fees, medical payments and basic travel allowance were allocated the sum of $55m.
The statement said, “The CBN, following the earlier take-off of its intervention in the sale of foreign exchange in Chinese yuan, injected the sum $340,507,376.51 into the interbank retail secondary market intervention sales. This was in addition to the sale of CNY69,858,087.15 in the spot and short-tenored forward.”
The naira continued its stability in the forex market, exchanging at an average of 360/$1 in the Bureau de Change segment of the market as of July 31, 2018.