The Central Bank of Nigeria last week intervened into the Forex Market in Nigeria through the Interbank foreign exchange market.
Ten banks got $162.8m on a rate of N330 to N360 per dollar on a 30 days tenor.6 banks got $58.52m dollars on a ratio of N315 to N320.50 per dollar for a tenor of 60 days.
The CBN interverntion will enable forex readily available for personal and business travels,medicals,and school fees.
Furthermore CBN injected $370.9m through forward sales at a qualified bid ranging from N315 to N360 per dollar.It made spot sales of $6m to 4 banks and sold $35m for payment of school fees, medicals and BTA.These measures brought down the price of dollars from a high of N520 to N460 as of Friday
Ten banks got $162.8m on a rate of N330 to N360 per dollar on a 30 days tenor.6 banks got $58.52m dollars on a ratio of N315 to N320.50 per dollar for a tenor of 60 days.
The CBN interverntion will enable forex readily available for personal and business travels,medicals,and school fees.
Furthermore CBN injected $370.9m through forward sales at a qualified bid ranging from N315 to N360 per dollar.It made spot sales of $6m to 4 banks and sold $35m for payment of school fees, medicals and BTA.These measures brought down the price of dollars from a high of N520 to N460 as of Friday
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