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Nigeria central bank to start dollar sales to FX bureaus next week – Reuters

HomeNewsNigeria central bank to start dollar sales to FX bureaus next week – Reuters
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30
Mar
Nigeria central bank to start dollar sales to FX bureaus next week – Reuters
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    Alex Ikechukwu
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LAGOS, March 30 (Reuters) – Nigeria’s central bank will start twice weekly currency sales to retail exchange bureaus from next week and step up dollar supplies to them in a bid to boost liquidity, it said on Thursday.

The bank said it would increase the amount it offers at the sales to $10,000 per exchange bureau from $8,000 and would announce a new rate on April 3.

Nigeria has more than 3,000 licenced retail forex operators.

This week the central bank set a rate of 362 naira per dollar, representing an 11 percent weakening in the local currency from the last setting in January for exchange bureaus to sell the U.S. currency to consumers. (Reporting by Chijioke Ohuocha; Editing by Hugh Lawson)

http://af.reuters.com/article/nigeriaNews/idAFL5N1H769K


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