…watching over you!

CBN Injects $337m, CNY53m Into Inter-Bank Forex Market

8 years ago Society Watch

Deprecated: mb_convert_encoding(): Handling HTML entities via mbstring is deprecated; use htmlspecialchars, htmlentities, or mb_encode_numericentity/mb_decode_numericentity instead in /home/newsaggs/societywatchng.com/wp-content/plugins/linkfast/includes/tooltip.php on line 18

Deprecated: Function utf8_decode() is deprecated in /home/newsaggs/societywatchng.com/wp-content/plugins/linkfast/includes/tooltip.php on line 21

In another round of intervention, the Central Bank of Nigeria (CBN), on Friday, injected over 337 million dollars in the Inter-Bank Foreign Exchange (Forex) market.

The CBN also intervened to the tune of 53.44 million Chinese Yuan in the Spot and Short tenored forwards of the inter-bank foreign exchange market.

The CBN Spokesman, Mr Isaac Okorafor, in a statement in Abuja said that the move was in furtherance of the Bank’s commitment to ensuring adequate liquidity and stability in the inter-bank foreign exchange market.

It will be recalled that the Bank had on Tuesday injected 210 million dollars in the Inter-Bank foreign exchange market.

Meanwhile, the Naira maintained its steady rate against major currencies around the globe, exchanging for N362 to a dollar in the Bureau De Change segment of the market on Friday.