Naira stability: CBN injects $210million in fx market

The Central Bank of Nigeria injected $210 million into the wholesale segment and other sectors of the market on Wednesday.

According to figures released by the Bank , the wholesale sector of the market got another injection of $100 million, while the small and medium enterprises and invisibles sectors each received $55 million.

Meanwhile, the Director, Corporate Communications Department at the CBN, Mr. Isaac Okorafor, said the forex interventions, in continuation of the Bank’s resolve, were aimed at sustaining the high level of stability in the Forex market and continually ease access to the currency by customers in the different sectors.

So far, the CBN had in its last interventions in December 2018, injected the sum of $299.82 million and CNY 143.60 million into the Retail Secondary Market Intervention Sales

Meanwhile, one United States Dollar (US$1) exchanged for ₦360 in the Bureau De Change (BDC) segment of the market yesterday