The Central Bank of Nigeria injected $210 million into the foreign exchange market, even as the Naira appreciated for the first time by 54 kobo to N360 per dollar in the Investors and Exporters window.
Confirming this development, the acting Director, Corporate Communications Department at the CBN, Mr. Isaac Okorafor, said that the Wholesale sector of the market got another injection of $100 million, just as the Small and Medium Enterprises and invisibles sectors each received $55 million.
Data from the Financial Market Dealers showed that the indicative exchange rate for the I&E window dropped to N360 per dollar, from N360.54 per dollar, indicating 54 kobo appreciation in the Naira.
The depreciation was in spite of 0.6 per cent increase in the I&E window turnover yesterday. The transactions in the window stood at $218.25 million, up from $217.16 million recorded on Monday.
Meanwhile, naira remained stable at N363 per dollar for the ninth consecutive business day in the parallel market.
