CBN Injects $195m into Currency Market

Nigeria’s central bank said on Tuesday it had injected $195 million into the interbank foreign exchange market, extending efforts to boost liquidity and alleviate dollar shortages.

The bank said in a statement it had released $100 million earmarked for the wholesale market, $50 million for small businesses and individuals, and $45 million for certain dollar expenses such as school fees and medical bills, Reuters reports.

The bank will continue to intervene in the foreign exchange market to sustain liquidity, the statement said.

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