.. As CBN Offers Fresh$100Mn
Yemisi Izuora
The Central Bank of Nigeria (CBN), has pushed in $100 million to meet the requests of wholesale customers, out of which $91 million was taken.
The consistent offer of FOREX is raising hope of further crash of the dollar in the market.
Confirming the offer, the Acting Director of Corporate Communications at the CBN, Isaac Okorafor, disclosed that the dealers will have value for their respective bids today Friday, March 24, 2017.
While further disclosing that the highest and marginal bid rates were N330/$1 and N320/$1, respectively, Okorafor said no intervention was made by the Bank to meet requests for invisibles on Thursday.
The Naira has continued to firm up against major currencies, especially the United States dollar, which some customers said they bought from the streets at the rate of N385/$1.
The CBN Governor, Godwin Emefiele, had at the Monetary Policy Committee briefing on Tuesday, March 21, 2017, assured that the Bank will sustain its FOREX intervention in the interbank market. He had also expressed optimism about the convergence of Forex rates between the Interbank and the BDCs.