CBN dumps 12-month forex policy with $876m auction

The Central Bank of Nigeria has auctioned $876.26m to end users whose bids were submitted by 26 commercial banks in the apex bank’s latest attempt to strengthen the ailing naira. The policy impacted the foreign exchange market on Wednesday as the naira appreciated against the United States Dollar, trading at N1,596.52/$ from N1,601/$ it traded

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