The central bank of Nigeria (CBN) said on
Monday it had injected $210 million into the interbank foreign exchange
market, extending efforts to boost liquidity and alleviate dollar
shortages.
Monday it had injected $210 million into the interbank foreign exchange
market, extending efforts to boost liquidity and alleviate dollar
shortages.
The CBN said in a statement it had released
$100 million earmarked for the wholesale market, $55 million for small
businesses and individuals, and $55 million for certain dollar expenses
such as school fees and medical bills.
$100 million earmarked for the wholesale market, $55 million for small
businesses and individuals, and $55 million for certain dollar expenses
such as school fees and medical bills.
Nigeria’s apex
bank is committed to “intervention in the interbank foreign exchange
market, in line with its pledge to sustain liquidity in the market and
maintain stability”, it said.
bank is committed to “intervention in the interbank foreign exchange
market, in line with its pledge to sustain liquidity in the market and
maintain stability”, it said.
CBN said its aim was “reducing the country’s import bills and
halting depletion of its foreign reserves”.
halting depletion of its foreign reserves”.
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