• Home
  • Photo News
  • News
    • NGO/CSO
    • Photo News
    • OrientalNews 7th Anniversary
    • Press Releases
    • World News
    • Nigeria News
    • Politics
    • Opinion
    • Sports
  • Interviews
  • SMEs
  • Law
    • Crime
  • Travel & Tours
    • Aviation
    • Tourism
  • Energy
    • Oil & Gas
    • Power
  • Business
    • Banking & Finance
      • Capital Market
      • Money Market
    • Pension
    • Insurance
    • Brands & Marketing
    • IT & Telecoms
    • Labour
    • Agriculture
    • Maritime
    • Property
    • Manufacturing
  • Regulators
    • Nigeria Bureu of Statistics
    • PENCOM
    • NAICOM
    • SEC
    • NSE
    • CBN
Facebook X (Twitter) Instagram
Monday, July 14
  • About us
  • Terms of use
  • Privacy Policy
  • Disclaimer
  • Advertize here
  • Contact us
Facebook X (Twitter) Instagram
Oriental News Nigeria
  • Home
  • Photo News
  • News
    • NGO/CSO
    • Photo News
    • OrientalNews 7th Anniversary
    • Press Releases
    • World News
    • Nigeria News
    • Politics
    • Opinion
    • Sports
  • Interviews
  • SMEs
  • Law
    • Crime
  • Travel & Tours
    • Aviation
    • Tourism
  • Energy
    • Oil & Gas
    • Power
  • Business
    • Banking & Finance
      • Capital Market
      • Money Market
    • Pension
    • Insurance
    • Brands & Marketing
    • IT & Telecoms
    • Labour
    • Agriculture
    • Maritime
    • Property
    • Manufacturing
  • Regulators
    • Nigeria Bureu of Statistics
    • PENCOM
    • NAICOM
    • SEC
    • NSE
    • CBN
Oriental News Nigeria
Home»Banking & Finance»Capital Market»Forex: CBN Intervenes With $210 Million
Capital Market

Forex: CBN Intervenes With $210 Million

By Orientalnews StaffFebruary 28, 2018No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

Yemisi Izuora 

 

The Central Bank of Nigeria (CBN) has again made interventions in the inter-bank sector of the Foreign Exchange market with the injection of $210 million into three segments of the market on Tuesday, February 27, 2018.

A breakdown of the Bank’s latest round of intervention indicates that the CBN offered the sum of $100 million to dealers in the wholesale window, while those in the Small and Medium Enterprises (SMEs) window received an allocation of $55 million. The invisibles segment, comprising Business/Personal Travel Allowances, school tuition, medicals, etc., was also allocated the sum of $55 million.

The CBN spokesman, Isaac Okorafor, in disclosing these, said the Bank would continue to make the interventions, in spite of the fact that the country’s reserve has enjoyed accretion in the past weeks, bringing the figure to about $42billion.

Okorafor was upbeat that the Bank’s forex management strategy was yielding the desired result; hence, he noted that the CBN would continue to sustain its activities in the market in order to maintain stability and liquidity.

Speaking on the goal of convergence between the rates at the inter-bank and Bureau de Change (BDC) segments, he said the CBN was working hard to achieve the objective and expressed belief that the rates in both markets would eventually merge in due course.

Meanwhile, the naira continued to maintain its stability in the FOREX market, exchanging at an average of N360/$1 in the BDC segment of the market on Tuesday, February 27, 2018. 

Share this:

  • Share
  • Click to email a link to a friend (Opens in new window) Email
  • Tweet
  • Click to share on Reddit (Opens in new window) Reddit
cover
Orientalnews Staff

Related Posts

SEC Complains That Digital Assets Fraud Is Threatening Market Integrity 

July 11, 2025

Stanbic IBTC Capital Is Sole Advisor To Tolaram On Successful Completion Of MTO

July 10, 2025

Stanbic IBTC Holdings Achieves 21.9% Oversubscription In Rights Issue

July 9, 2025

Leave A Reply Cancel Reply

2025 OrientalNews Conference

0
Years
:
0
Months
:
0
Days
:
0
Hrs
:
0
Mins
:
0
Secs
The latest
  • Nigeria Declares Tuesday Public Holiday To Honour Former President Buhari …FEC Meeting Deferred
  • Commissioner for Insurance Mourns Late President Muhammadu Buhari
  • Woodhall Capital, Polaris Bank, UK & Lagos State Launch ₦1.5B Fund to Scale Nigeria’s Creative Economy.”
  • President Tinubu Eulogizes Soyinka On Birthday 
  • Sanwo-Olu Mourns Awujale, Commiserates With Ijebu Indigenes
  • Lagos State Governor Mourns As Buhari Dies 
  • Minister Of Police Affairs Mourns Buhari
  • Heirs Insurance Group Gross Premium Written Hits ₦61 Billion 
  • FIRS Hosts Conference on Illicit Financial Flows
  • NCS Graduates Senior Officers In NIIA
Categories
Quick Links
  • About us
  • Terms of use
  • Privacy Policy
  • Disclaimer
  • Advertize here
  • Contact us
Facebook X (Twitter) Instagram YouTube LinkedIn
Copyright © 2025 Oriental News Nigeria. All right reserved.

Type above and press Enter to search. Press Esc to cancel.