In Investor News

The Naira started the week with a 51 kobo appreciation to N360.19 per Dollar in the Investors’ and Exporters’ (I&E) window, even as the Central Bank of Nigeria (CBN) injected $210 Million into the Foreign Exchange market.

The Acting Director, Corporate Communications Department (CCD), CBN, Mr. Isaac Okorafor confirmed the injection saying: “The CBN offered $100 Million to authorized dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment got the sum of $55 Million.

Customers needing Foreign Exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated the sum of $55 Million.” Meanwhile, data from the Financial Market Dealers Quote (FMDQ) showed that indicative exchange rate for the I&E window dropped to N360.19 per Dollar on Sunday, 25th of February, 2018, from N360.70per Dollar recorded last week Friday, 23rd of February, 2018 indicating a 51 kobo appreciation.

 

Read more at: https://www.vanguardngr.com/2018/02/cbn-injects-210m-naira-appreciates-n360-19/

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