The Central Bank of Nigeria (CBN) yesterday further intervened in the forex market by supplying the inter-bank foreign exchange market with the sum of $210 million.
Also, the sum of $55m was apportioned to invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA).
“The naira, on Wednesday, May 30, 2018, exchanged at an average of N363/$1 in the BDC segment of the market representing three naira gain to the dollar. It had on the previous day exchanged for N367.”
The apex bank recently ordered banks not to deny genuine travelers Personal Travel Allowance (PTA) and Business Travel Allowance (BTA) as there are enough dollar supplies to meet demand.