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CBN Makes First Forex Intervention of 2019 As Foreign Reserve Records Highest Opening
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CBN Makes First Forex Intervention of 2019 As 
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Central Bank of Nigeria (CBN) Friday made its first intervention in the inter-bank sector of the Foreign Exchange market for 2019 with a total sum of $210 million injected into the wholesale segment and other sectors of the market, said Eagle Online.

A breakdown of the figures showed that customers in the Wholesale sector of the market received the sum of $100 million with the Small and Medium Enterprises and invisibles sectors each getting $55 million to meet the needs of customers.

CBM Director of Corporate Communications, Isaac Okorafor, said the bank continued from where it stopped in 2018 to maintain the stability being enjoyed in the market.

Also, Nigerian foreign reserve, in 2019, has recorded the highest opening in six years!

According to the latest figures from CBN, as collated by TheCable, the country’s reserves opened at $43,075,740,908 on Tuesday to break a six-year record.

The last time Nigeria’s reserves opened above $42 billion was in 2013, when it opened the new year at above $45 billion.

For 2014, 2015, 2016, 2017, and 2018, the reserves stood at $40.6 billion, $34.2 billion, $28.2 billion, 27.9 billion, $38.9 billion and $43.1 billion respectively.

Idowu Sowunmi
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