Forex cbn intervenes 195 million

It appears that the Central Bank of Nigeria (CBN) has intervened in the foreign exchange market by injecting $195 million into the system.

Here's a breakdown of the intervention:

• Date: [Insert date]
• Amount: $195 million
• Intervention type: Forward Sales (spot and forward)
• Currencies involved: US Dollar (USD) and Nigerian Naira (NGN)

The CBN's intervention aims to:

1. Maintain stability in the foreign exchange market
2. Support the value of the Naira
3. Enhance liquidity in the market
4. Promote economic growth and development

By injecting $195 million into the system, the CBN is providing additional liquidity to the market, which should help to:

1. Reduce the demand for foreign exchange
2. Increase the supply of foreign exchange
3. Stabilize the exchange rate
4. Encourage trade and investment

It's worth noting that the CBN's intervention is not a one-time event, but rather a regular occurrence aimed at maintaining a stable foreign exchange market. The bank regularly intervenes in the market to address any imbalances and maintain a stable exchange rate.