Home Finance CBN sells $300m at WDAS

CBN sells $300m at WDAS

by Business News Report

The Central Bank of Nigeria (CBN) said on Monday that it sold foreign exchange worth $300 million in the 26th Wholesale Dutch Auction System (WDAS). The figure represents an increase of $62.88 million over the $237.12 million sold in the 25th edition, held on Wednesday, April 3. However, the naira remained firm against the U.S. dollar at an exchange rate of N155.74, the same as on Wednesday. The bank also said that there was increase in the number of banks that participated in the auction, adding that while 16 banks participated on Wednesday, 21 did on Monday. Sales had been hovering between $150 million and $300 million since the beginning of the year.

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