LAGOS, Oct. 24 (Xinhua) -- Nigeria's apex bank has injected 195 million U.S. dollars into the inter-bank Foreign Exchange (Forex) Market.
The bank offered 100 million dollars to authorized dealers in the wholesale segment of the market, Isaac Okorafor, a spokesperson for the Central Bank of Nigeria (CBN) said in a statement reaching Xinhua on Tuesday.
He said the Small and Medium Enterprises (SMEs) segment received 50 million dollars while those requiring forex for invisible such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, received 45 million dollars.
According to Okorafor, the bank is confident that the level of transparency it had entrenched in the market will help the naira to sustain its steady run against the dollar.
He said it would also strengthen the naira against other major currencies around the world.
The apex bank spokesperson said the market would remain very stable as long as every player sticked to the forex guidelines.
The bank last week intervened in the various segments of the forex market with 195 million dollars.
