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CBN sells N3.8b forex at WDAS

23 April 2013, 11:14

Lagos-  The Central Bank of Nigeria (CBN) said on Monday that it sold 246.52 million dollars (N3.8 billion) worth of foreign exchange at its 30th bi-monthly Wholesale Dutch Auction System (WDAS).

The apex bank disclosed this on its Website, released after the WDAS trading.

The volume of the forex sold dropped by 19.66 million dollars (N3.05 billion), against the 266.19 million dollars sold on April 17.

Some of the dealers said that the apex bank reduced the sale to 246.52 million dollars to control the influx of forex in the system.

The News Agency of Nigeria (NAN) reports that the Naira maintained its appreciation against the Dollar at the auction, trading at N155.75 to the dollar.

NAN also reports that the exchange rate was N155.78 to a dollar at the auction on April 17.

It gathered that the CBN had not gone above selling 300 million dollars weekly since the beginning of the month.

The report added that 18 banks participated at the bi-weekly WDAS auction, as against 19 banks that traded on April 17.


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