Friday, 13 February 2015

Nigerian banks banned from reselling central bank dollars to each other

 

Nigeria's central bank banned banks on Friday from reselling dollars bought at its currency auctions to other banks, dealers said, a move aimed at curbing speculation.

Central bank officials did not immediately respond to a request for comment. The central bank had asked commercial lenders to submit their customers' dollar demand in a special forex sale on Friday, which delayed trading for over an hour.

Two sales were conducted at 198.50 naira to the dollar totalling $40.8 million.


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