CBN Sells $350m Forex At WDAS

The Central Bank of Nigeria (CBN) on Monday sold foreign exchange worth 350 million dollars (N5.43 billion) at its 48th bi-weekly Wholesale Dutch Auction System (WDAS).

This was contained in a data published on the apex bank’s Website on Monday.

The CBN sold the same value of forex on June 20.

Some dealers said that the apex bank sold the sum in order to control the foreign exchange in the system.

The official exchange rate remained at N155.90 to the dollar at Monday’s auction.

The CBN has been selling 400 million dollars weekly since May.

A total of 21 banks participated at Monday’s auction of WDAS