Search ITRealms:

Featured post

Africa: Vodacom inspires discourse on future of mobile money - ITREALMS

ITREALMS : Some key representatives from over eight countries on the continent of African gathered at a workshop organized by Vodacom to...

Tuesday, October 24, 2017

CBN infuses $195 into Forex

The apex financial regulator, Central Bank ofNigeria (CBN), has infused the sum of $195 million, about N70,395,000,000 trillion, into the inter-bank Foreign Exchange Market, reports ITRealms.

CBN on Monday, said its offering $100 million to authorized dealers in the wholesale sector of the market; the Small and Medium Enterprises (SMEs) sector got the sum of $50 million. Those requiring foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance, BTA, among others, were allocated the sum of $45 million.

Confirming this, the acting director, Corporate Communications, Mr. Isaac Okorafor, expressed confident that the level of transparency CBN has entrenched in the market, stressing it would help the Naira to sustain its steady run against the dollar and other major currencies around the world.

“The market will remain very stable as long as every player sticks to the forex guidelines,” he said.


ITRealms recollects that the CBN last week also intervened in the various sectors of the Forex market with the sum of $195 million.

Ayo Midele/GEE
ITREALMS ... everything news digitally!

10 comments:

Christi said...
This comment has been removed by the author.
Christi said...

I just couldn't leave your website before telling you that I truly enjoyed the top quality info you present to your visitors? Will be back again frequently to check up on new posts.

COMPAQ LA1751g said...

I just couldn't leave your website before telling you that I truly enjoyed the top quality info you present to your visitors? Will be back again frequently to check up on new posts. daily forex trading blogs

2009 DREAM said...

This is really a nice and informative, containing all information and also has a great impact on the new technology. Thanks for sharing it, https://247binaryoptions.com/

2009 DREAM said...

The information you have posted is very useful. The sites you have referred was good. Thanks for sharing.. top forex broker

WASA said...

Its a great pleasure reading your post.Its full of information I am looking for and I love to post a comment that "The content of your post is awesome" Great work. nifty tips

fridge said...

useful information on topics that plenty are interested on for this wonderful post.Admiring the time and effort you put into your b!.. Accurate Forex Signals

wizzo said...

I admit, I have not been on this web page in a long time... however it was another joy to see It is such an important topic and ignored by so many, even professionals. professionals. I thank you to help making people more aware of possible issues. City Index review

CHARLIE NAJJAR said...

Your blog provided us with great information to work with, each tips of your post are amazing. Thanks a lot for sharing. Keep blogging.
Profiting in Forex Trading doesn’t come from trading more often, but by profitable trades. The best trades aren’t available every hour or even every day, so sometimes you might have to wait for days or even weeks to find good Forex Managed Accounts

VAPE said...

The ratio of assets and liabilities of the bank in foreign currency determines its currency position. convert $59.99 There are no right or wrong answers, just successful and unsuccessful traders.