CBN Injects $210 Million to Shore up Naira
The Central Bank of Nigeria has injected $210 million into the foreign exchange market. This came just as the naira closed at 363 per dollar at the parallel market .
Figures released by the bank shows out of the $210 million, the wholesale sector of the market got an injection of $100 million while SMEs and others received $55 million.
The Acting Director, Corporate Communications Department CBN, Isaac Okorafor, says the intervention is in line with the bank’s commitment to sustain the high level of stability in the forex market and ease access to currency.
Okorafor added the financial regulator was supported by recent gains in the foreign exchange sector.