Figures
released by the bank revealed that the Wholesale sector of the market got
another injection of $100 million, just as the Small and Medium Enterprises
(SMEs) and invisibles sectors each received $55 million.
Confirming
the figures, the Acting Director, Corporate Communications Department at the
CBN, Mr. Isaac Okorafor, said Tuesday’s
interventions, like the previous intermediations, were in line with the Bank’s
commitment to sustain the high level of stability in the Forex market and
continually ease access to the currency by those requiring it for genuine
activities. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html
Okorafor,
while commending the role of every player in the market, said the CBN was ready
to inject funds into the market, whenever and wherever necessary, in order to
maintain market stability as well as sustain the financial system.
He
also said the financial regulator was further buoyed by recent gains in the
foreign exchange sector, which had seen the country’s reserves soar closer to
the $50 billion mark. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html
Speaking further, Okorafor said the country’s reserves continued to enjoy
accretion, adding that the present reserves status at the Bank meant that the
CBN was capable of sustaining foreign exchange liquidity in the system.
Tuesday’s
intervention came as one United States Dollar (US$1) exchanged for N361 in the
Bureau De Change (BDC) segment of the market.
Meanwhile,
it will be recalled that the CBN in its last interventions on Friday, April 20,
2018, injected the sum of $396.18million into the Retail Secondary Market
Intervention Sales (SMIS).
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