Home Business CBN pumps additional $170m into forex market
CBN pumps additional $170m into forex market
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CBN pumps additional $170m into forex market

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Image result for CBN pumps additional $170m into interbank marketThe Nigerian currency, the naira, may further  gain  strength in the money market as the Central Bank of Nigeria on Thursday pumped $170 m into the interbank market.

A breakdown of this showed that the central bank sold the sum of $100 million as wholesale intervention while $70 million was sold to meet requests for Business and Personal Travel Allowances.

Over $1.2 billion have been injected into the interbank forex market within the past few weeks.

The CBN Acting Director, Corporate Communications, Isaac Okorafor, says the bank will supply enough forex to genuine customers of Deposit Money Banks while  increasing liquidity in the market.

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