CBN offers $100 mln in currency forwards to narrow naira gap

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LAGOS, April 6  – Nigeria’s central bank offered $100 million in currency forwards on Thursday, to be settled within 60 days, the bank said in a statement.

The bank has been selling dollars to try to narrow the spread between the naira’s official and black market exchange rates.

The currency was quoted at 398 to the dollar on the black market on Thursday, the same level as the previous day’s close.

On Thursday, the central bank also offered an additional $10,000 to bureaux de change, bringing the total offered this week to each of them to $30,000 after similar disbursements on Tuesday and Wednesday.

 

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