The interbank segment of the Foreign Exchange

Market has received a boost of $210 million from the Central
Bank of Nigeria (CBN) following sales concluded on Tuesday,
June 11, 2019.
Figures obtained from the CBN indicated that authorized dealers
in the wholesale segment of the market were offered the sum of
$100million, while the Small and Medium Enterprises (SMEs)
segment received the sum of $55 million. The sum of $55
million was allocated to customers requiring foreign exchange
for invisibles such as tuition fees, medical payments and Basic
Travel Allowance (BTA), among others.

Confirming the figures, the Director, Corporate Communications
Department, Mr. Isaac Okorafor reaffirmed the Bank’s
commitment towards ensuring stability in foreign exchange
It will be recalled that at the last intervention on Friday, June 7,
2019, the Bank injected the sum of $294.7million and
CNY31.4million into the Retail Secondary Market Intervention
Sales (SMIS) segment.

Meanwhile, the Naira on Tuesday, June 11, 2019, exchanged at

an average of N360/$1 in the BDC segment of the market.