CBN to offer $100 mln currency forwards -traders

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LAGOS, April 18  – Nigeria central bank plans to offer $100 million in currency forwards at an auction on Tuesday, traders said, citing a memo from the bank, to boost liquidity on the interbank market and support the naira.

The dollar sale, for which settlement will be between one week and 45 days, is aimed at meeting demand for businesses, the bank said. The sale will be via a wholesale auction.

The naira was quoted at 306 on the official market and changing hands at 405 on the black market on Tuesday.

 

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