The Central Bank of
Nigeria (CBN) on Thursday cleared more retail currency bureaux to take part in
a weekly dollar sale to boost liquidity and support the naira which is weak on
the black market.
Aminu Gwadabe, president
of Nigeria's bureau de change operators, said the central bank
cleared 3,124 bureaux for this week's $25 million auction to be
sold by international money transfer firm Travelex at 381 naira per dollar.
The bank approved 3,114
bureaux last week, Gwadabe said.
The CBN, under pressure
from the government to narrow the gap between the official and black market
rates and support the weakening naira, has stepped up dollar sales on the
official interbank market in recent weeks.
On Thursday the bank
also announced an offer for $100 million in currency forwards.
The naira last traded at
307 on the official market at 1200 GMT, while it was quoted at 453 on the black
market.
-REUTERS
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