4 July 2012

Nigeria: Naira Gains 30k at CBN Forex Auction

The naira gained 30k at the Central Bank of Nigeria (CBN)'s bi-weekly Wholesale Dutch Auction System (WDAS) held on Wednesday.

The News Agency of Nigeria (NAN) quoting the bank's Website said that the apex bank sold foreign exchange worth 251.09 million dollars (N39.14 trillion) to banks.

CBN sold 251.09 million dollars (N39.14 trillion) at the rate of N155.90 to a dollar as against 350 million dollars (N54.57 trillion) sold at N155.93 per dollar at Monday's auction.

The naira also gained 30k to a dollar at the auction sold at N155.90 against N155.93 sold on July 2.

Seventeen banks participated in the auction against 20 banks that bided. NAN

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