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Naira gains 20kobo in NAFEX as CBN injects $195m

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NAIRA WATCH
By Adaeze Okechukwu
The naira, yesterday, appreciated by 20 kobo to N360.20 per dollar in the Investor and Exporter (I&E) Foreign Exchange Window, even as the Central Bank of Nigeria, CBN continued its sustenance of foreign exchange liquidity by injecting another $195 million into the inter-bank Foreign Exchange Market.

The indicative exchange rate for the I & E Window, known as Nigerian Autonomous Foreign Exchange, NAFEX, appreciated to N360.20 per dollar, yesterday, from Friday’s market rate which stood at N360.40 per dollar; while, the volume of dollars traded in the window, yesterday, was $266.41 million.

Meanwhile, figures released by the CBN showed that it offered the total sum of $100million to the Wholesale segment, while the Small and Medium Enterprises (SMEs) segment received the sum of $50 million.

Similarly, the invisibles segment comprising tuition, medical payments and Basic Travel Allowance (BTA) received $45 million.

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