Nigeria: CBN Lifts Foreign Exchange Market With $195 Million

The Central Bank of Nigeria (CBN) yesterday announced an intervention in various segments of the inter-bank market to the tune of $195m. This is coming on the first day of transaction after the Eid-el-Fitr celebration, the Central Bank of Nigeria (CBN) during which the Naira maintained a stable stance against the US Dollar.

A breakdown of Wednesday's intervention indicates that authorized dealers in the wholesale window segment received a $100 million offer from the Bank, while the Small and Medium Enterprises (SMEs) and invisibles windows were allocated the sums of $50 million and $45 million, respectively.

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