Authorized dealers in the wholesale segment of the inter-bank foreign exchange market received the sum of $100m from the Central Bank of Nigeria (CBN) on Tuesday, October 9,2018 to meet the needs of customers.
The CBN also allocated the sum of $55m each to the Small and Medium Enterprises (SMEs) and the invisible segments.
The figures for the invisibles was meant for customers requiring it for tuition fees, medical payments and Basic Travel Allowance (BTA) amongst others.
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.
Meanwhile, the Naira maintained it’s steady rate against major currencies around the globe, exchanging for N361/$1in the BDC segment of the market on Tuesday, October 9, 2018