Guardian

The Central Bank of Nigeria (CBN) sold foreign exchange worth $43.2 million (N66.96 billion) at its bi-weekly Wholesale Dutch Auction System (WDAS) Wednesday.

This information was contained in the apex bank’s website after the auction.

NAN reports that Wednesday’s WDAS sale figure was lower than the one conducted on Monday at which $150 million dollars was sold.

A dealer, who preferred anonymity, said that the action of the apex bank was to control foreign exchange in the system.

“The small amount of forex sold this time around is because it is the second auction in the year.

``Again, most Nigerians abroad came in with foreign currencies during the Yuletide and that means that there is still much foreign currencies around,`` he said.

The official exchange rate remained at N155.79 to the dollar at Wednesday’s auction.

The dollar has remained at N155.79 to the dollar since the December 19, 2012.

Three banks participated at yesterday’s auction against 15 that participated at Monday’s auction.