Forex: CBN injects $186.5m

629
2044
Central Bank of Nigeria Headquaters, Abuja

Following the conclusion of the Monetary Policy Committee Meeting, the Central Bank of Nigeria (CBN) has injected the sum of $186.5million into the invisible and the whole Wholesale Secondary Market Intervention Sales (SMIS) segments of the forex market.

The sum is made up of $36.5 million in the invisibles, $50m for Small and Medium Enterprises (SMEs) segments and $100 in the wholesale segment. The Central Bank of Nigeria (CBN) also approved the sale of $100 million at the Wholesale Secondary Market Intervention Sales (SMIS) auction announced on Monday, May 22, 2017.
The CBN Acting Director, Corporate Communications, Isaac Okorafor, speaking to the journalists on the sideline of the MPC briefing confirmed the sales at both the invisible and wholesale segments were settled on Tuesday, May 23, 2017.
Mr. Okorafor reiterated that the CBN will continue to make every necessary intervention in the interbank market to sustain the supply of forex to meet legitimate foreign exchange demands by customers.
He stated that the efforts of the CBN in sustaining the intervention in the forex market is beginning to post some positive effects, as the Naira is making steady gain against major currencies.
This goes to reaffirm the CBN Governors pledge at the Monetary Policy Committee press briefing on the need to sustain the FOREX intervention to ensure the convergence of the forex rates.
There are strong indications, according to market analysts that the Naira is likely to maintain an average exchange rate below N375 to $1 in no distant time.

629 COMMENTS

  1. Wow! This could be one particular of the most useful blogs We have ever arrive across on this subject. Actually Excellent. I am also an expert in this topic so I can understand your hard work.

  2. Terrific work! This is the type of information that should be shared around the web. Shame on the search engines for not positioning this post higher! Come on over and visit my site. Thanks =)

  3. I simply could not depart your site prior to suggesting that I really enjoyed the standard info an individual provide for your visitors? Is gonna be again steadily to inspect new posts

  4. keep up the excellent work , I read few articles on this site and I conceive that your website is real interesting and has got bands of fantastic information.

  5. IaаАа’б‚Т€ТšаЂаŒаАа’б‚Т€ТžаБТžm a lengthy time watcher and I just considered IaаАа’б‚Т€ТšаЂаŒаАа’б‚Т€ТžаБТžd drop by and say hello there there for the very initially time.

  6. My brother recommended I might like this website. He was totally right. This post actually made my day. You can not imagine just how much time I had spent for this information! Thanks!

  7. It as not that I want to duplicate your internet site, nevertheless I really like the layout. Might you allow me identify which propose are you using? Or was it principally designed?

  8. Thank you a lot for sharing this with all people you really understand what you are speaking about! Bookmarked. Kindly additionally visit my website =). We may have a link trade contract among us!

  9. This write-up contains fantastic original thinking. The informational content material here proves that issues arenaаАа’б‚Т€ТšаЂаŒаАа’б‚Т€ТžаБТžt so black and white. I feel smarter from just reading this.

  10. Ita??a?аАа’аАТ‚аЂ s really a cool and helpful piece of information. I am glad that you simply shared this useful info with us. Please stay us informed like this. Thank you for sharing.

  11. You can definitely see your expertise in the work you write. The arena hopes for more passionate writers like you who aren at afraid to mention how they believe. All the time go after your heart.

  12. I will right away grasp your rss as I can at in finding your email subscription hyperlink or newsletter service. Do you have any? Please allow me realize so that I may subscribe. Thanks.

  13. You could certainly see your enthusiasm within the article you
    write. The sector hopes for even more passionate writers like you who aren’t
    afraid to mention how they believe. At all times follow
    your heart.

  14. Hey There. I found your blog using msn. This is an extremely well written article.
    I’ll be sure to bookmark it and return to read more of your useful info.

    Thanks for the post. I will definitely return.

  15. Right now it appears like Drupal could be the preferred blogging platform available at this time. (from what I ave read) Is the fact that what you are making use of on your weblog?

  16. I’m really inspired with your writing talents and also with the
    layout in your blog. Is this a paid topic or did
    you modify it yourself? Either way keep up the nice high quality writing,
    it’s uncommon to look a great blog like this one nowadays..

  17. I wanted to thank you for this fantastic article, I certainly loved each and every small bit of it. I ave bookmarked your internet site to look at the latest stuff you post.

  18. Can I simply just say what a comfort to discover an individual who genuinely knows what they’re discussing online.
    You definitely realize how to bring an issue to light and make it important.
    A lot more people need to look at this and understand this side of the
    story. It’s surprising you are not more popular because you certainly have the gift.

  19. magnificent post, very informative. I wonder why the other specialists of this sector do not notice this. You must continue your writing. I am sure, you have a great readers a base already!

  20. You could certainly see your enthusiasm in the paintings you write. The arena hopes for more passionate writers like you who aren at afraid to mention how they believe. All the time follow your heart.

  21. My brother suggested I might like this blog. He was entirely right. This post truly made my day. You cann at imagine simply how much time I had spent for this information! Thanks!

LEAVE A REPLY

Please enter your comment!
Please enter your name here