CBN Pumps in another $246M for wholesale Forwards, SMEs, Others..

The Central Bank of Nigeria (CBN) had on Monday offered the sum of $246.2 million to authorised dealers at a foreign exchange auction on the interbank market for wholesale forwards, small and medium scale enterprises (SMEs) and invisibles.

CBN disclosed that $150 million was auctioned at the wholesale window while SMEs and invisibles got $52 million and $44.2 million respectively.

A CBN spokesman said "SME operators no longer have to patronize or source foreign exchange through unofficial windows and no more pressure on either the BDCs or any other unofficial source with the opening of the special window."
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