July 3, 2020 / 7:08 PM / a month ago

Nigeria central bank to sell FX to retail clients at 5% above official rate -traders

LAGOS, July 3 (Reuters) - Nigeria’s central bank asked lenders to bid for forex at an auction at 380 to the dollar from a previous rate of 360, allowing the naira to weaken, traders said on Friday.

The central bank, Nigeria’s main supplier of dollars, depreciated the forex rate for retail interventions by 5%, traders said, quoting a message from the regulator to lenders. (Reporting by Chijioke Ohuocha Editing by Chris Reese)

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