Nigeria's central bank injects $210 mln into currency market

By Kitco News / January 15, 2018 / www.kitco.com / Article Link

LAGOS, Jan 15 (Reuters) - Nigeria's central bank said on Monday that it had injected $210 million into the interbank foreign exchange market as part of its attempt to boost liquidity and alleviate dollar shortages.

The bank said in a statement it had released $100 million earmarked for the wholesale market, $55 million for small businesses, and $55 million for certain dollar expenses such as school fees and medical bills.

The bank, in an emailed statement, said it would continue to intervene in the foreign exchange market to sustain liquidity.


(Reporting by Alexis Akwagyiram; Editing by Alison Williams)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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