Nigeria central bank injects $210m into forex market to boost lequidity

Nigeria’s central bank said Tuesday it has injected $210 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, $55 million for small businesses and individuals, and $55 million for certain dollar expenses such as school fees and medical bills.

The Nigerian naira remained flat at N363 to the dollar in the parallel market on Tuesday, but continued to dip in value at the Investors and Exporters (I&E) window where it exchanged at N361.61 to the dollar.