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CBN Pumps Over $400m Into FX Market

A breakdown of the latest round of intervention shows that $100 million was allotted to the wholesale window, while the small and medium enterprises window got $28 million.

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The Central Bank of Nigeria (CBN) intervened in the inter-bank foreign exchange market with $413.5 million on monday, to guarantee liquidity in the system.

A breakdown of the latest round of intervention shows that $100 million was allotted to the wholesale window, while the small and medium enterprises window got $28 million.

$25.5 million was allocated to the invisibles market for business and personal travel allowances, school tuition as well as medicals.

In a statement from the bank, interventions carried out for auction sales in the retail window last week was put at $260 million.

This development sustained Naira stability in the FOREX market, at 367 to the dollar.


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