We Disbursed $13.99bn Forex In 6 Months — CBN

October 8, 2020
41 Views

According to the Central Bank of Nigeria (CBN) quarterly statistical bulletin on ‘Supply of forex’, the Apex bank supplied $13.99bn into the market between January and June.

The forex were supplied to the Bureau De Change operators, the interbank segment, and also the Investors & Exporters window, Small and Medium Enterprises (SMEs) and invisibles.

The bank disclosed that $122.9m, $63.2m, $2m, $62.12m, $55.89m and $68.86m were supplied through the interbank segment each month from January to June.

$1.47bn, $2.15bn, $3.6bn, $777.23bn, $941.24bn and $1.02bn were disbursed monthly between January and and June, through the I&E, SME and invisible windows.

In April, the CBN had stopped the sale of forex to the BDCs due to the effects of the pandemic on the economy.

The CBN resumed provision of forex to commercial banks for sales, as the COVID-19 lockdown is being eased both globally and in the country.

It resumed sale of forex to the BDC segment of the market in the first week of September.

However, the margin between the exchange rate of the naira to the dollar at the official rate and parallel market has continued to remain high despite the apex bank’s intervention.

Yesterday (Wednesday), while the official exchange rate remained N379 per dollar, the naira exchanged to the dollar at 457 per dollar.

You may be interested

Genevieve blasts Gov Wike, calls him a dictator
News
2 views
News
2 views

Genevieve blasts Gov Wike, calls him a dictator

Webby - October 13, 2020

<!-- Gov Nyesom Wike (left), Genevieve Nnaji (right) --> Gov Nyesom Wike (left), Genevieve Nnaji (right) By Nimot Adetola Sulaimon…

Nigerian Police need to be retrained – Comedian AY
News
1 views
News
1 views

Nigerian Police need to be retrained – Comedian AY

Webby - October 13, 2020

<!-- Ayo Makun --> Ayo Makun  By Muhaimin Olowoporoku Popular comedian Ayo Makun, known as AY has said that the…

#EndSARS: Laycon cancels Abuja media tour
News
1 views
News
1 views

#EndSARS: Laycon cancels Abuja media tour

Webby - October 13, 2020

<!-- Laycon --> BBNaija lockdown winner, Laycon By Taiwo Okanlawon Big Brother Naija Lockdown season 5 winner Olamilekan Agbeleshe popularly…

Leave a Comment

Your email address will not be published.