CBN adds $195m to Forex Market

By Dipo Olowookere

The sum of $195 million was released by the Central Bank of Nigeria (CBN) on Wednesday into the foreign exchange market.

This is part of the CBN’s efforts to boost liquidity at the market.

According to the apex bank, out of the $195 million intervention, $100 million was allocated to the wholesale window sector.

Also, the Small and Medium Enterprises (SMEs) received $50 million, while $45 million was disbursed to settle the invisibles window.

Since February this year, the central bank has released over $4 billion into the forex market to meet the demands of customers.

Spokesman of the CBN, Mr Isaac Okorafor, expressed satisfaction with the level of transparency exhibited by stakeholders in the market.