Twenty-four hours after the Central Bank of Nigeria (CBN) announced its new policy action for the foreign exchange market, it has injected $370.9million into various banks.
CBN on Tuesday traded a total of $370,810,810.79 to 23 banks to ensure they met the visible and invisible requests of their customers.
A CBN source disclosed that the qualified bids ranged from N315 to N360 per dollar, adding that “other banks received allotments ranging from $46,512.50 to $15,578,081.51.”
Acting Director of CBN’s Corporate Communications, Isaac Okoroafor said the whole intervention was aimed at easing the difficulties experienced by Nigerians in accessing forex.
It would be recalled that last week, the apex bank unveiled a new policy action which directed all banks in the country to open forex retail outlets at their major outlets to make foreign exchange readily available to all.