Naira appreciates further at I&E FX window as CBN injects fresh $210m

The Naira further appreciated against the dollar on Thursday at the Investors’ and Exporters’ Foreign Exchange Window (I&E FX window) as the the Central Bank of Nigeria (CBN) injected a fresh $210 million into the interbank foreign exchange market.

At the I&E FX window, the local currency gained 0.06 per cent to $/N363.57 from $/N363.78 on Wednesday, while at the interbank, the Naira/USD rate remained stable at $/N360.40.

The exchange rate at the parallel market remained unchanged at $/N359.50.

The apex bank released  $100 million into the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment got $55 million.

Similarly, customers requiring foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated the sum of $55 million.

While confirming the figures, the Bank’s Director, Corporate Communications Department, Mr. Isaac Okorafor reiterated the CBN’s commitment to continue to boost interbank foreign exchange market to ensure liquidity in the market and sustain stability in the market.

The Bank had last Friday injected the sum of $210 million into the interbank market.