Nigeria central bank to start dollar sales to FX bureaus next week

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Nigeria central bank to start dollar sales to FX bureaus next week
Thu Mar 30, 2017 4:47pm GMT

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LAGOS, March 30 (Reuters) – Nigeria's central bank will
start twice weekly currency sales to retail exchange bureaus
from next week and step up dollar supplies to them in a bid to
boost liquidity, it said on Thursday.

The bank said it would increase the amount it offers at the
sales to $10,000 per exchange bureau from $8,000 and would
announce a new rate on April 3.

Nigeria has more than 3,000 licenced retail forex operators.

This week the central bank set a rate of 362 naira per
dollar, representing an 11 percent weakening in the local
currency from the last setting in January for exchange bureaus
to sell the U.S. currency to consumers.
(Reporting by Chijioke Ohuocha; Editing by Hugh Lawson)

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