CBN Release another $180m for wholesale Auctions & Invisible in Forex

Few weeks ago, Central bank of Nigeria Injected $500m into Forex and banks get $371m.  This week again, CBN releases additional $180m meet bid for wholesale auction and request for invisibles such Medicals, School fees and personal travel allowance (PTA) through inter-bank window.

CBN Release money for forexThese wholesale requests will be settle today, March 21, 2017 according to CBN’s acting director, corporate communication, Mr. Isaac Okafor.

This development according to Mr. Isaac Okafor will help to strength Naira further in forex exchange market.

All eligible individual who are in genuine need of forex exchange are advised to freely approach banks and authorized dealer with their request as CBN has made adequate provision of foreign exchange for invisible and visible items.

Those Legitimate customers whom forex are unfairly denied access to can approach CBN with their complaint for resolution.

Meanwhile, Naira  has continued to appreciate against dollar at black market and it is expected that it will continue to strength further. Today, it is traded at 430 to a dollar.

Naira also appreciated against Pound Sterling, trading at 530 and 460 per Euro.

At inter-bank exchange window, Naira closed at 307.5 as of yesterday.

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