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Nigeria's central bank sells dollars

Published August 11, 2016 Updated August 11, 2016 03:48pm
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By Parvez Jabri
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imageLAGOS: Nigeria's central bank sold dollars on Thursday to boost liquidity and help the naira to strengthen against the greenback, traders said.

The central bank asked some traders to bid for $1.5 million each, they said, adding that the bank had been selling hard currency since this week. A total of $6.27 million traded on Thursday.

The naira, which opened at 320 per dollar, closed at 310 on Thursday. It touched an all-time low of 350 on Tuesday.

Copyright Reuters, 2016

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