BUSINESSNIGERIAN

CBN pumps another round of fund to bolster inter-bank forex market

The Central Bank of Nigeria (CBN) on Friday pumped in over 337 million dollars in the Inter-Bank Foreign Exchange (Forex) market.

It also intervened to the tune of 53.44 million Chinese Yuan in the Spot and Short tenured forwards of the inter-bank foreign exchange market.

In a statement by the spokesman of the apex bank, Mr Isaac Okorafor, the move was in furtherance of the Bank’s commitment to ensuring adequate liquidity and stability in the inter-bank foreign exchange market.

It will be recalled that the Bank had on Tuesday injected 210 million dollars in the Inter-Bank foreign exchange market.

Meanwhile, the Naira maintained its steady rate against major currencies around the globe, exchanging for N362 to a dollar in the Bureau De Change segment of the market on Friday.

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