After
a lull witnessed in the foreign exchange market last week, the Central Bank of Nigeria on Monday injected the sum of $457.3 million into various segments of the market.
A breakdown of the offer indicates that both spot and forwards garnered the sum of $267.3 million while the wholesale segment got $100 million.
Also, the SME and invisibles segments comprising of basic travel allowance, tuition fee and medical got and $50 million and $40 million respectively.
The naira was quoted for sale N380 – $1 at the parallel market.
Meanwhile, a check on the volume of trading on the Investors and Exporters foreign exchange window in the past three weeks on the FMDQ platform revealed that the sum of $600 million has for been sold by both the CBN and autonomous sources.
When contacted for comments on the developments in the market, the Acting Director, Corporate Communications at the Central Bank of Nigeria, Isaac Okorafor, expressed satisfaction with the level of activities in the market.
While confirming the sales figure for the Monday, Mr. Okorafor singled out the Investors and Exporters segment noting that the volume of activities is an indicative of the fact that investors are being attracted to the financial market and the economy in general.the will.
