The Central Bank of Nigeria (NAN) sold foreign exchange worth 43.2 million dollars (N66.96 billion) at its bi-weekly Wholesale Dutch Auction System (WDAS) on Wednesday. This information was contained in the apex bank’s Website on Wednesday after the auction.
The News Agency of Nigeria (NAN) reports that the WDAS sale on Wednesday was smaller than the one conducted on Monday at which 150 million dollars was sold.
A dealer, who preferred anonymity, said that the action of the apex bank was to control foreign exchange in the system. “The small amount of forex sold this time around is because it is the second auction in the year.
“Again, most Nigerians abroad came in with foreign currencies during the Yuletide and that means that there is still much foreign currencies around,“ he said. The official exchange rate remained at N155.79 to the dollar at Wednesday's auction.
The dollar has remained at N155.79 to the dollar since the Dec. 19, 2012. A total of three banks participated at Wednesday’s auction against 15 banks that participated at Monday’s auction. (NAN)