Naira closes flat, CBN injects $195m into FX market

The Central Bank of Nigeria has continued its sustenance of foreign exchange liquidity by injecting another $195m into the inter-bank foreign exchange market, even as the naira maintains its strength.
The $195m intervention was made on Monday.
Figures released by the bank showed that it offered the sum of $100m to the wholesale segment, while the Small and Medium Enterprises segment received the sum of $50m. The invisibles segment comprising tuition, medical payments and basic travel allowance received $45m.
The bank’s Acting Director, Corporate Communications, Mr. Isaac Okorafor, said on Monday that the intervention was in line with the CBN’s continual determination to ensure forex liquidity and satisfy legitimate demands.
Okorafor said the bank would continue to intervene in the nation’s forex market in order to sustain the liquidity in the market and guarantee the international value of the naira.
Meanwhile, the naira closed at 363/dollar at the parallel market on Monday, the same rate it had maintained in the past two weeks.

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