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CBN Injects 195m Dollars Into Forex Market - Business - Nairaland

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CBN Injects 195m Dollars Into Forex Market by eyesoflagos: 7:50am On Jul 25, 2017
CBN Injects $195m Into Forex Market
source : http://www.eyesoflagos.com/2017/07/cbn-injects-195m-into-forex-market.html

Ahead of the decisions of the Monetary Policy Committee (MPC) today, the Central Bank of Nigeria (CBN) yesterday, boosted liquidity in various segments of the inter-bank foreign exchange market with the total of $195 million.

At Monday’s Forex trading, the CBN offered the sum of $100,000,000 as wholesale interventions and allocated the sum of $50,000,000 to the Small and Medium Enterprises (SMEs) forex window. The invisibles segment comprising Business/Personal Travel Allowances, tuition and medical fees, among others, received $45,000,000.

The Bank’s acting director in charge of Corporate Communications, Mr. Isaac Okorafor, said the bank continued to intervene in the inter-bank sector in order to ensure adequate liquidity in the market.

According to him, the CBN management was quite pleased with the performance of the naira against other major currencies around the world, particularly now that the forex rates at both the inter-bank and BDC segments neared convergence.

Mr. Okorafor expressed optimism that the Bank’s intervention had put a check on the activities of speculators, just as he underscored the determination of the CBN in sustaining stability in the forex market through thorough monitoring of authorised dealers in order to reduce incidences of sharp practices.

Meanwhile, the naira maintained its steady rate against major currencies around the globe, exchanging for N363/$1 in the BDC segment of the market on Monday, July 24, 2017.

Ahead of the decisions of the Monetary Policy Committee (MPC) on Tuesday, July 25, 2017, the Central Bank of Nigeria (CBN) on Monday, July 24, 2017 boosted liquidity in various segments of the inter-bank foreign exchange market with the total of $195 million.

At Monday’s Forex trading, the CBN offered the sum of $100,000,000 as wholesale interventions and allocated the sum of $50,000,000 to the Small and Medium Enterprises (SMEs) forex window.

The invisibles segment comprising Business/Personal Travel Allowances, tuition and medical fees, among others, received $45,000,000.

Okorafor said the Bank continued to intervene in the inter-bank sector in order to ensure adequate liquidity in the market.

According to him, the CBN management was quite pleased with the performance of the naira against other major currencies around the world, particularly now that the forex rates at both the inter-bank and BDC segments neared convergence.

Mr. Okorafor expressed optimism that the Bank’s intervention had put a check on the activities of speculators, just as he underscored the determination of the CBN in sustaining stability in the forex market through thorough monitoring of authorised dealers in order to reduce incidences of sharp practices.

Meanwhile, the naira maintained its steady rate against major currencies around the globe, exchanging for N363/$1 in the BDC segment of the market on Monday, July 24, 2017.

1 Like

Re: CBN Injects 195m Dollars Into Forex Market by Agbalanze(m): 8:17am On Jul 25, 2017
ok

Now that I have secured my land, let me go back and read the post grin grin tongue

Be right back!! tongue grin

2 Likes

Re: CBN Injects 195m Dollars Into Forex Market by femmy2010(m): 8:17am On Jul 25, 2017
grin

Local Contractors has to be paid in Naira guess it makes much sense to sell in the market than allow some few in government hold on to it .

1 Like

Re: CBN Injects 195m Dollars Into Forex Market by bewla(m): 8:17am On Jul 25, 2017
will this add to naira
Re: CBN Injects 195m Dollars Into Forex Market by Atiku2019: 8:19am On Jul 25, 2017
cool
Re: CBN Injects 195m Dollars Into Forex Market by Thisis2raw(m): 8:19am On Jul 25, 2017
Am yet to see any change in the forex,
Re: CBN Injects 195m Dollars Into Forex Market by Tayomi37: 8:20am On Jul 25, 2017
if I may ask, where are all the money coming from and we are chanting no money in the nation

4 Likes

Re: CBN Injects 195m Dollars Into Forex Market by kenzysmith: 8:20am On Jul 25, 2017
Oga oo who una help make go find one brotel enter jare
Re: CBN Injects 195m Dollars Into Forex Market by techycontents(m): 8:21am On Jul 25, 2017
Okay
Re: CBN Injects 195m Dollars Into Forex Market by dhardline(m): 8:22am On Jul 25, 2017
363 naira wow.
My boss who happens to be from India said a quantity of tomato which is sold for 900naira in Nigeria,same quantity is sold for 400naira after conversions in his country and it's the same for all other products. cry cry .Inflation is still smiling at us.

5 Likes

Re: CBN Injects 195m Dollars Into Forex Market by Dbrainiac1(m): 8:23am On Jul 25, 2017
CBN inject me na

13 Likes

Re: CBN Injects 195m Dollars Into Forex Market by Aburi001: 8:23am On Jul 25, 2017
Why can't the CBN release Lloyd this money at once?

Let the dollar exchange for 200 naira at once please!
Re: CBN Injects 195m Dollars Into Forex Market by rectitude(m): 8:23am On Jul 25, 2017
Keep on improving
Re: CBN Injects 195m Dollars Into Forex Market by Tayomi37: 8:25am On Jul 25, 2017
And they keep chanting no money in the nation

1 Like

Re: CBN Injects 195m Dollars Into Forex Market by Raymondfayowole(m): 8:25am On Jul 25, 2017
ok lets wait for d result den
Re: CBN Injects 195m Dollars Into Forex Market by femmy2010(m): 8:25am On Jul 25, 2017
Tayomi37:
if I may ask, where are all the money coming from and we are chanting no money in the nation

Foreign investment , sale of crude and other invincible imports .

Re: CBN Injects 195m Dollars Into Forex Market by twilliamx(m): 8:29am On Jul 25, 2017
2
Re: CBN Injects 195m Dollars Into Forex Market by centboy123456(m): 8:30am On Jul 25, 2017
if dey make dey Injects all d money na there business be that biafra all the way Oct 1
Re: CBN Injects 195m Dollars Into Forex Market by OgaBuhari: 8:31am On Jul 25, 2017
Buhari still remains a huge disaster to this county

2 Likes

Re: CBN Injects 195m Dollars Into Forex Market by centboy123456(m): 8:32am On Jul 25, 2017
Dbrainiac1:
CBN inject me na


oh God u are not serous at all hahahahah

1 Like

Re: CBN Injects 195m Dollars Into Forex Market by MARKone(m): 8:32am On Jul 25, 2017
Dbrainiac1:
CBN inject me na

Lolz no be only u, I need that injection too, even if na half doze

1 Like

Re: CBN Injects 195m Dollars Into Forex Market by petishegzy(m): 8:34am On Jul 25, 2017
Team #1 = $1
Re: CBN Injects 195m Dollars Into Forex Market by macphilip: 8:34am On Jul 25, 2017
let them return it back to the way it was before. 199 per USD
Re: CBN Injects 195m Dollars Into Forex Market by magoo10(m): 8:34am On Jul 25, 2017
Artificial president
Artificial economy
Artificial government
For how long?
APshit Shame!!

3 Likes

Re: CBN Injects 195m Dollars Into Forex Market by Master19: 8:34am On Jul 25, 2017
I just hope that the middle and low income earners will feel the effect of this and that the price of things especially cement will go down soon.

1 Like

Re: CBN Injects 195m Dollars Into Forex Market by buffalowings: 8:38am On Jul 25, 2017
M
Re: CBN Injects 195m Dollars Into Forex Market by buffalowings: 8:40am On Jul 25, 2017
Dbrainiac1:
CBN inject me na

You say wetin grin

1 Like

Re: CBN Injects 195m Dollars Into Forex Market by buffalowings: 8:42am On Jul 25, 2017
So na wetin these guy learnt for havard be this

To be injecting money grin
Re: CBN Injects 195m Dollars Into Forex Market by proeast(m): 8:46am On Jul 25, 2017
Rubbish! Such a crude economy, everything is being manualy manipulated. I heard that the government of the islamic republic of Nigeria wants to sell forex at 200 naira per dollar to muslem tourists going on holyday to Saudi Arabia! They sell Niger Delta oil and allocate a huge percentage to 19 northern states, another equally substantial percentage to LGA's & kano alone has 44 LGA along with hundreds of others that has less than 1000 people in them that proliferate the north, then the rest will be looted and whatever is left will be dashed to muslem tourists going to buy gold jewelries and other goods in Saudi Arabia. Infrastructure like electricity, roads, rails etc is abandoned while the area where the oil is mined will be grossly polluted, with the inhabitants living in abject poverty! AND YOU TELL ME NIGERIA IS NOT A ZOO?

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Re: CBN Injects 195m Dollars Into Forex Market by slendxy: 8:46am On Jul 25, 2017
I'm worried about the long term effect of this injection. Its like dressing a wound instead of treating it.
Re: CBN Injects 195m Dollars Into Forex Market by Sunnyja: 8:48am On Jul 25, 2017
femmy2010:


Foreign investment , sale of crude and other invincible imports .
Foreign investment! I guess you are trying to crack some jokes.
Re: CBN Injects 195m Dollars Into Forex Market by samonom(m): 8:57am On Jul 25, 2017
Tayomi37:
if I may ask, where are all the money coming from and we are chanting no money in the nation

From Forex trading

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