CBN boost forex availability with $195 million

The Central Bank of Nigeria, CBN on Tuesday, injected about $195 million in its continued effort to sustain the supply of foreign exchange to the market.

This comprised of $150 million for the wholesale auction and $45 million in the invisible segment for such items as medical fees, tuition fees, Personal Travel Allowance (PTA) and Business Travel Allowance (BTA).

The CBN spokesperson, Isaac Okorafor, said that the bank acted promptly and proactively in line with its promise to keep the market liquid enough to meet the needs of genuine requests.

The total intervention by the Central Bank in the market so far is above $1.3 billion.