The interbank segment of the Foreign Exchange Market has received a fresh boost of $210 million from the Central Bank of Nigeria (CBN) following sales concluded on Tuesday, July 16, 2019.

Figures obtained from the CBN indicated that authorized dealers in the wholesale segment of the market were again offered the sum of $100million, while the Small and Medium Enterprises (SMEs) window received the sum of $55 million.

The sum of $55 million was equally allocated to customers requiring foreign exchange for Invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others.

The Director, Corporate Communications Department at the CBN, Mr Isaac Okorafor, confirmed the sales, just as he reaffirmed the Bank’s commitment towards sustaining the level of stability in the foreign exchange market.

It will be recalled that at the last intervention on Friday, July 12, 2019, the Bank injected the sum of $298.7million and CNY39.6million into the Retail Secondary Market Intervention Sales (SMIS) segment.

Meanwhile, the rate of exchange between the Naira and the United States dollars in the BDC segment of the market on Tuesday, July 16, 2019, was N360/$1.

SOURCE: https://brandspurng.com/2019/07/17/central-bank-of-nigeria-injects-210m-in-forex-market/

Rather than inject limited forex for people traveling overseas for vacation or education, I will suggest instead they invest that money in Bitcoin for 10 years and use the proceeds for budget allocations and infrastructure modernization. This will encourage many to visit our local resorts, beaches and zoos instead of boosting the economies of foreign countries. Limiting forex availability will also curtail the current trend of Nigerians going overseas to study when we could be improving our education sector.

$300 million invested in bitcoin today may be worth $30 Trillion in 10 years. This will not only lift us from 3rd world status, we may become the world's biggest economy.

Always Ejecting since 2015, okay woh we hope for production

Ok. This thing no dey clear me. I am very sure there are scams going on through it.

How will all these reduce the unemployment?

very great!

So, when would they eject?

Well, I have nothing to say but good move for now.

This case is like someone having Malaria and Typhoid fever, and he continues to take Paracetamol just to relieve headache/body pain without treating the illness from root cause.

NOT BAD

Economist gurus

Isn't this one of the reasons the Emir HRH Sanusi said we are going broke

Isn't this slapping a bandaid on a festering wound?

How does this impact the GDP and hel price control.of consumer goods ?

Someone kindly explain to me in a coherent and precise manner

After almost $10billion injected so far, still, the dollar is still N365.


Emeafele stop injecting why aboki is stashing it under their bed and babariga

if them like make them digest, inject, reject even eject
stupid policies would always hinder productivity

I guess the Forex market needs it more than the poor on the streets ryt !!

Until the effect is felt on our economy, it remains a figure.

Is central bank now a hospital, that they keep injecting injections,

FOREX : One of the several ways we codedly do our things.

In Jesus Christ we trust!

Inject Everytime but people still Dey suffer..The rich is getting richer and the poor is getting poorer..



God Go Make Us Make Our Own ����

No country relies solely on imports and expects its currency to appreciate. I repeat. NO COUNTRY.

rentAcock:
Rather than inject limited forex for people traveling overseas for vacation or education, I will suggest instead they invest that money in Bitcoin for 10 years and use the proceeds for budget allocations and infrastructure modernization. This will encourage many to visit our local resorts, beaches and zoos instead of boosting the economies of foreign countries. Limiting forex availability will also curtail the current trend of Nigerians going overseas to study when we could be improving our education sector.

$300 million invested in bitcoin today may be worth $30 Trillion in 10 years. This will not only lift us from 3rd world status, we may become the world's biggest economy.

@boldened, it may also be worth $0. What or who exactly backs bitcoin?

We need yuan more than anything else





Get your reliable phone powerbank and enjoy our free shipping service

.

rentAcock:
Rather than inject limited forex for people traveling overseas for vacation or education, I will suggest instead they invest that money in Bitcoin for 10 years and use the proceeds for budget allocations and infrastructure modernization. This will encourage many to visit our local resorts, beaches and zoos instead of boosting the economies of foreign countries. Limiting forex availability will also curtail the current trend of Nigerians going overseas to study when we could be improving our education sector.

$300 million invested in bitcoin today may be worth $30 Trillion in 10 years. This will not only lift us from 3rd world status, we may become the world's biggest economy.

Bro... do u know what ubare saying at all... Bitcoin is a virtual currency with no central system of tendancy

How will I get my own share from it

post=80344636:
FOREX : One of the several ways we codedly do our things.

In Jesus Christ we trust!

MannaBBQ How was market last night
We are talking about Nigeria economy not Suya and Barbeque that you sell at zenith bank gate in surulere

rentAcock:
Rather than inject limited forex for people traveling overseas for vacation or education, I will suggest instead they invest that money in Bitcoin for 10 years and use the proceeds for budget allocations and infrastructure modernization. This will encourage many to visit our local resorts, beaches and zoos instead of boosting the economies of foreign countries. Limiting forex availability will also curtail the current trend of Nigerians going overseas to study when we could be improving our education sector.

$300 million invested in bitcoin today may be worth $30 Trillion in 10 years. This will not only lift us from 3rd world status, we may become the world's biggest economy.

You expect a country to capitalize on cryptocurrency ,it's just like saying they should play 3 odds with $300m.

rentAcock:
Rather than inject limited forex for people traveling overseas for vacation or education, I will suggest instead they invest that money in Bitcoin for 10 years and use the proceeds for budget allocations and infrastructure modernization. This will encourage many to visit our local resorts, beaches and zoos instead of boosting the economies of foreign countries. Limiting forex availability will also curtail the current trend of Nigerians going overseas to study when we could be improving our education sector.

$300 million invested in bitcoin today may be worth $30 Trillion in 10 years. This will not only lift us from 3rd world status, we may become the world's biggest economy.

See the way u de talk.

So if u get a huge fund like this u put it in a venture that is volatile as btc

Happy to hear this. i love the development, going to have my national cake from here trading forex is my hubby we make money daily... I love CBN

If you Know how forex work, you won't advise your enemy to put their money in btc... Not butter and bread though

rentAcock:
Rather than inject limited forex for people traveling overseas for vacation or education, I will suggest instead they invest that money in Bitcoin for 10 years and use the proceeds for budget allocations and infrastructure modernization. This will encourage many to visit our local resorts, beaches and zoos instead of boosting the economies of foreign countries. Limiting forex availability will also curtail the current trend of Nigerians going overseas to study when we could be improving our education sector.

$300 million invested in bitcoin today may be worth $30 Trillion in 10 years. This will not only lift us from 3rd world status, we may become the world's biggest economy.

you know nothing about forex bro...

vh

rentAcock:
Rather than inject limited forex for people traveling overseas for vacation or education, I will suggest instead they invest that money in Bitcoin for 10 years and use the proceeds for budget allocations and infrastructure modernization. This will encourage many to visit our local resorts, beaches and zoos instead of boosting the economies of foreign countries. Limiting forex availability will also curtail the current trend of Nigerians going overseas to study when we could be improving our education sector.

$300 million invested in bitcoin today may be worth $30 Trillion in 10 years. This will not only lift us from 3rd world status, we may become the world's biggest economy.

$300m invested in btc is chump change. Btc market capital drops and increases at will, sometimes you can see a dip of up to $25b in 3hrs and a possible rise of market capital of more than $23b in less than 1. Not saying $300m invested as an organization or a person isn’t a good investment, But as a country, you must first create a sense of trust between you and your people about Crypto. Nigeria is currently anti crypto and that amount invested in btc will not make any positive effect on the coin except the country starts giving Blockchain a positive thought, only then will btc gets a positive boost.