THE Central Bank of Nigeria (CBN) has boosted the Inter-bank Foreign Exchange Market with the sum of $210million, to meet customers’ requests in various segments of the market. The figures also indicated that customers needing foreign exchange for Invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated the sum of $55 million. Mr Isaac Okorafor, the Bank’s Acting Director, Corporate Communications Department (CCD), reiterated the Bank’s determination to continue to intervene in the interbank foreign exchange market, in line with its pledge to sustain liquidity in the market and maintain stability. According to Mr Okorafor, the CBN will continue to manage the forex with a view to reducing the country’s import bills and minimize depletion of foreign reserves. Meanwhile, the naira continued its stability in the FOREX market, exchanging at an average of N361/$1 in the BDC segment of the market on Monday .

Source: Nigerian Tribune January 22, 2018 17:37 UTC