Indonesian central bank to invest $180 million to support the naira

Date：2017-03-22

According to the news agency, reported that the Indonesian Central Bank (CBN) to $180 million into the market to deal with wholesale traders and bank charges about $80 million in market demand, such as education, health care, personal travel etc.. The announcement was released on Monday, will be landing on Tuesday (March 21st).
Indonesian central bank reiterated that will ensure the sustainable foreign exchange market liquidity and transparency, to ensure as many customers get what they need in the foreign exchange market. Indonesian central bank to ensure an adequate supply of foreign exchange. Indonesian central bank since February to the inter-bank market to invest $1 billion 500 million to support the naira currency and foreign exchange market stability. At the same time, the parallel market prices continue to rise to $1, up to 445 naira for a dollar. 530 naira to the pound, 465 naira to euro. In the BDC market, a dollar can change 399 naira, corresponding a pound for the price of 580 naira, one euro price of 525 naira. The inter-bank market price to 307.3 naira dollar closing.
Today, the foreign exchange market, foreign exchange price drop naira, in some areas of Lagos $1 can only change to 400 naira.