CBN sells $399 million at currency auction 

The Central Bank of Nigeria (CBN), sold $399.98 million at its bi-weekly currency auction yesterday.

The highest bid rate at the auction was $158.27 per dollar, while the lowest bids came in at $155.00 per dollar.

22 banks participated in the auction.

The spread between the CBN rate and the interbank rate hovers around N6, with the naira trading at N164.8 at the Nigerian Interbank Foriegn Exchange (NIFEX), market.
USD/NGN - 1 month

Chart : Yahoo