Nigeria’s central bank injects $195m into forex market
November 8, 20171.3K views0 comments
Nigeria’s central bank said Tuesday it had injected $195 million into the interbank foreign exchange market, extending efforts to boost liquidity and alleviate dollar shortages.
The bank said in a statement it had released $100 million earmarked for the wholesale market, $50 million for small businesses and individuals, and $45 million for certain dollar expenses such as school fees and medical bills.
The bank will continue to intervene in the foreign exchange market to sustain liquidity, the statement said.
Read Also:
- Adeduntan leaves after 9-years leading Nigeria’s oldest bank
- Nigeria banks on low-interest $2.25bn World Bank loan to boost economic recovery
- Alebiosu, banking veteran, replaces Adeduntan as First Bank MD/CEO
- World Bank, AfDB strike partnership to boost electricity access for 300…
- Nigeria’s inflation to ease in Q2 ’24, say analysts at Cowry Asset