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    CBN Injects $210million Into Foreign Exchange Market

    The Central Bank of Nigeria (CBN) has injected 210 million dollars to meet customers’ requests in various segments of the foreign exchange market.

    The acting Director, Corporate Communications, CBN, Mr Isaac Okoroafor in a statement in Abuja said the bank offered 100 million dollars to authorized dealers in the wholesale segment of the market.

    He said that the Small and Medium Enterprises (SMEs) segment got 55 million dollars, while another 55 million dollars was allocated for tuition fees, medical payments and Basic Travel Allowance (BTA), among others.

    Okoroafor reiterated the bank’s commitment to continue to intervene in the interbank foreign exchange market, in line with its pledge to sustain liquidity in the market and maintain stability.

    He said that the CBN would sustain its strategic management of the foreign exchange market with a view to reducing the country’s import bills and halt depletion of its foreign reserves.

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