The Central Bank of Nigeria, CBN, on Tuesday cushion the economy by injecting a total of $482.6 million into the foreign exchange market.

According to a statement released by its Acting Director, Corporate Communications, Mr Isaac Okorafor in Abuja, this was part of the measures promised by the apex bank to moderate the Naira's value and sustain forex liquidity.

The breakdown of the intervention shows $285.7 million was allocated to the retail Secondary Market Intervention Sales, while $100 million was offered in the Wholesale SMIS auction window.

The invisibles segment, consisting of Personal Travel Allowance, medicals, tuition fees and Basic Travel Allowance was allocated $45 million.

Speaking further, Okorafor expressed optimism that the CBN's objective to converge exchange rate across all forex segments would be achieved soon, and called on all stakeholders to play their respective roles in ensuring the smooth running of the foreign exchange policy.

In April, the economy rebounded slightly after data showed the consumer prices and the economy improved following a series of policies instituted by the CBN to speed up economic recovery and sustain its diversification agenda.

So far, the CBN has injected about $5 billion into the forex market.

The Naira traded at an average of N375 to a dollar in Abuja, Lagos, Kano and Port-Harcourt on Tuesday.

http://investorsking.com/cbn-injects-482-6m-into-forex-market-naira-gains/

Naira is gaining and there is still hunger everywhere, u ppl ar not serious,



Lemme charge my fone in peace biko

honestly


I've really given up hope on the naira


so news and statement dont move me anymore


I'll only believe reality


if all this gain isnt reflecting on the common man then its useless


until useless banks like unity start using their atm for dollar transaction then IAB

The Naira traded at an average of N375 to a dollar in Abuja, Lagos, Kano and Port-Harcourt on Tuesday.

Actually, if this is at the parallel market, there is a little improvement. CBN, keep it up. Hopefully, at this rate and everything being equal, the Naira may trade around 300/$ before the end of the last quarter.
Long live The Fed Rep of Nigeria.

Ok

naijeria and fallacy

As bubu don travel, dollar will fall again.

Abeg make Buhari remain in London till 2023.

Osibaba for 2019

It's still N375 mtchew

We need something sustainable not just father Chris dash out!

Failed Entity...called Nigeria

abeg where can I buy dollar at cheap rate.. I wan buy new phone for aliexpress

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These are the men who give a Bleep

God bless Bet9ja!

The injection/intervention has been futile, just spoke with a UBA customer representative about 5mins ago concerning how much the charge on card transactions and was told its #385/$.

Its been hopeless and needless.

How long will this "injection " continue?

Inject indeed

nawa for our leaders noise makers

Donald Duke for president 2019

PapaNnamdi:
Naira is gaining and there is still hunger everywhere, u ppl ar not serious,

Lemme charge my fone in peace biko

Nigerians are Nigeria's problem nah... Why won't there still getting hunger when everybody is very selfish and trying to maximize profit at the detriment of others

I hope it won't affect the money that would be used to implement the 2017 budget.

They are back again

U ppl have come again with this gain and loose abi Aboki will still change it for u at same amount same as bank e no dey change

mtcheew...same story.

lies lies lies....
so gtb and co, now sells above abokis abi?
bunch of useless ppl

CBN is only displaying incompetence. All these dollar injections we've been hearing and still no effect. Why not come up with new and better strategy.
Billions of dollars injected into the forex and the rate remains where it is and, prices of commodities still go up.

Femich18:

Nigerians are Nigeria's problem nah... Why won't there still getting hunger when everybody is very selfish and trying to maximize profit at the detriment of others

you said the plain truth...our government is @ fault too but we nigerians are the worst we are ones killing ourselves with our selfish motive..we go just dey hype price with every chance and they will open their stupid mouth and say its dollar even 10naira biscuit dere go hype put am for dollar head

cyberdurable:
Failed Entity...called Nigeria

abeg where can I buy dollar at cheap rate.. I wan buy new phone for aliexpress

I know you're not happy to hear this development. Enemy of progressive government.

nextprince:
The Naira traded at an average of N375 to a dollar in Abuja, Lagos, Kano and Port-Harcourt on Tuesday.

Actually, if this is at the parallel market, there is a little improvement. CBN, keep it up. Hopefully, at this rate and everything being equal, the Naira may trade around 300/$ before the end of the last quarter.
Long live The Fed Rep of Nigeria.

you Dan do your own analyst be that oo?

experimentist:
God bless Bet9ja!

Dem don pay u?

marvin902:



you said the plain truth...our government is @ fault too but we nigerians are the worst we are ones killing ourselves with our selfish motive..we go just dey hype price with every chance and they will open their stupid mouth and say its dollar even 10naira biscuit dere go hype put am for dollar head

Hahahahaha... Everything nah dollapo o... even pure water sef nah dollapo

smartty68:
The injection/intervention has been futile, just spoke with a UBA customer representative about 5mins ago concerning how much the charge on card transactions and was told its[b] #385/$.[/b]

Its been hopeless and needless.

Gtbank does 360 I purchased true aliexpress even when dollar was 380 at Black market

edo3:
Dem don pay u?

Yes Boss! Dem pay me for die minute o! Na God o.