Nigeria’s Central Bank (CBN) has reinforced the inter-bank Foreign Exchange market with $413.5 million. The latest intervention has further underscored the Banks resolve to guarantee liquidity in the market as well as shore up the international value of the naira.

Giving a breakdown of the Bank’s latest round of intervention,the CBN Acting Director in charge of Corporate Communications, Mr. Isaac Okorafor, disclosed that the CBN offered the sum of $100 million to dealers in the wholesale window, while the Small and Medium Enterprises (SMEs) window was allocated a total of $28 million. The invisibles segment was allocated the sum of $25.5 million to meet the needs of those requiring forex for Business/Personal Travel Allowances, school tuition, medicals, etc.

According to Okorafor, the Bank also  released the figures for the auction sales in the retail window last week, totaling $260million.

Okorafor said the dollar and other major currencies around the world, considering that transparency in the market has ensured greater stability.