By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: CBN Injects $195m Into Foreign Exchange Market
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
News

CBN Injects $195m Into Foreign Exchange Market

Farouk Mohammed
By Farouk Mohammed
Published: October 24, 2017
Share
2 Min Read
SHARE

The Central Bank of Nigeria (CBN) has injected $195m into the inter-bank foreign exchange (Forex) Market as it continues to lift the naira against other major currencies.

The apex court’s spokesman, Isaac Okorafor, said in a statement that the bank offered 100 million dollars to authorised dealers in the wholesale segment of the market.

He said the Small and Medium Enterprises (SMEs) segment received 50 million dollars while those requiring forex for tuition fees, medical payments and Basic Travel Allowance (BTA), among others, received 45 million dollars.

According to Okorafor, the bank is confident that the level of transparency it had entrenched in the market will help the Naira to sustain its steady run against the dollar.

- Advertisement -

He further said it would also strengthen the naira against other major currencies around the world.

Okorafor said the market would remain very stable as long as every player sticked to the forex guidelines.

The CBN last week intervened in the various segments of the Forex market with 195 million dollars.

Meanwhile, the naira continued to maintain its stability in the FOREX market, exchanging at an average of N360 per dollar in the BDC segment of the market on Monday, Oct. 23, 2017.

- Advertisement -

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:CBNForeign Exchange Market
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByFarouk Mohammed
Publisher
Follow:
Farouk Mohammed is a Head Editor at Okay Nigeria (Okay.ng). He has been publishing for 10 years and focused more on Local/World News on Okay.ng
Previous Article Court Orders Jonathan to Appear As Olisa Metuh’s Witness
Next Article Court Adjourns Trial Of Former Gov. Ibrahim Shema, Three Others

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Exchange Rate

Okay.ng Logo
Buy Rate ₦1,605.00
Sell Rate ₦1,620.00

Last updated: 3 days ago (June 3, 2025 2:33 pm)

Displayed rates are for informational purposes only and are subject to change.

USD/NGN Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Tinubu Warns Lagos, States Against Unauthorised Island Approvals, Vows to Revoke Encroachments
News
Shettima Inaugurates African Medical Centre of Excellence in Abuja, Hails New Era in African Healthcare
News
Tinubu Pledges Increased Infrastructure Funding, Calls for State-Federal Collaboration on Approvals
News
Trump and Musk Feud Deepens as Accusations Fly Over Policy, Power, and Personal Ties
International
Elon Musk Says Trump Would Have Lost 2024 Election Without His Support
International Top stories
- Advertisement -
Ad imageAd image

You May Also Like

Ooni of Ife
News

Ooni of Ife Calls Wike’s Ministerial Appointment a “Mystery”, Urges Academic Study

Muhammad A. Aliyu
Muhammad A. Aliyu
June 5, 2025
News

Nigerian Army Foils Kidnapping Attempt, Arrests Suspects in Ondo State

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 5, 2025
NewsTop stories

Former Petroleum Minister Prof. Jibrin Aminu Passes Away at 85, Leaving a Lasting Legacy

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 5, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?