The Central Bank of Nigeria, CBN, in a statement on Tuesday confirmed that it had injected $210 million into the interbank foreign exchange market, as part of efforts to increase liquidity and reduce dollar shortages.
According to the statement, from the funds released: $100 million was reserved for the wholesale market; $55 million for Small and Medium Enterprises forex window; $55 million for customers requiring forex for business/personal travel allowances, tuition and medical fees, among others.
The Acting Director, Corporate Communications for CBN, Mr. Isaac Okorafor, said the bank was happy with the performance of the naira, noting that in recent times, it had been consistently stable against the dollar and other major currencies.
Mr Okorafor said the bank would continue with such interventions in the interbank forex market in line with its decision to ensure liquidity in the market and maintain stability.
Meanwhile, for Tuesday, August 14, 2018, the naira exchanged at N360 per $1 in the Bureau de Change, BDC, a segment of the market, but depreciated to N306.05 per $1 at the official rate from N306 per $1.