Forex dealers buy up CBN $150m wholesale offer

Forex dealers buy up CBN $150m wholesale offer

…CBN to meet requests of Airlines, manufacturing, agric, petroleum sectors

Authorised foreign exchange dealers have fully subscribed to the $150 million offered by the Central Bank of Nigeria (CBN) at the forex auction in the interbank wholesale window on Tuesday, April 4, 2017.

The CBN also on Tuesday, April 4, 2017, fulfilled its commitment to sell $10,000 to Bureaux de Change (BDCs) in line with its new sale policy.

Isaac Okorafor, CBN acting director of Corporate Communications, confirmed the sale in Abuja on Tuesday, just as he announced interventions in the retail auction window for forex sales to the airlines, manufacturing, agricultural and petroleum sectors. He added that banks have started submitting requests made by their customers to the CBN.

It will be recalled that the CBN since February 21, 2017, has made over ten offers in the interbank wholesale market ranging from $100million to $500million per auction. Dealers have fully subscribed to the last three auctions that ranged from $100 million to $150 million.

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