Home News Banks get dollar surplus as CBN offers $100 million
Banks get dollar surplus as CBN offers $100 million
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Banks get dollar surplus as CBN offers $100 million

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The Central Bank of Nigeria (CBN) ended the week with a fresh dollar intervention at the interbank market worth $100 million, while banks were unable to pick them all. The development showed a surplus dollar position in the banks, particularly for the retail segment- personal business travel allowance, medical tourism and school fees, among others.

Specifically, while the banks had earlier made bids worth $91 million, CBN on its part offered $100 million and the lenders ended up picking $81.35 million, leaving about $18 million for the apex bank.

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