CBN Injects $457.3m Into Forex Market
The Apex Bank has on Monday put 457.3 million dollars into various segments of the market to boost economy activities in the country.
The CBN Spokesman, Isaac Okorafor, in a statement, said both the spot and forwards segments garnered 267.3 million dollars, while the wholesale segment got 100 million dollars.
Okorafor said the Small and Medium Enterprises (SMEs) and invisible segments comprising basic travel allowance, tuition fee and medical got 50 million dollars and 40 million dollars respectively.
Meanwhile, the checks on the volume of trading on the Investors and Exporters foreign exchange window in the past three weeks on the FMDQ platform revealed that 600 million dollars had been sold by both the CBN and autonomous sources.
Okorafor expressed satisfaction with the level of activities in the market.
He said the volume of activities being recorded in the Investors and Exporters forex segment was indicative of the fact that investors were attracted to the Nigerian financial market and the economy in general.
Checks of the volume of trading also revealed that the Naira closed at N383 to a dollar at the parallel market.