ABUJA, Feb 19 – Nigeria’s central bank said on Monday it had injected $210 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, $55 million for small businesses and individuals, and $55 million for certain dollar expenses such as school fees and medical bills.
Nigeria’s central bank is committed to “intervention in the interbank foreign exchange market, in line with its pledge to sustain liquidity in the market and maintain stability”, it said.
The Central Bank of Nigeria said its aim was “reducing the country’s import bills and halting depletion of its foreign reserves”. (Reporting by Paul Carsten; Editing by Kevin Liffey)