2024-08-07 | FMD/DUTCHAUCTION

The Result of the Retail Foreign Exchange (FX) Sale to End Users Through Retail Dutch Auction Undertaken by the Central Bank of Nigeria (CBN) on Tuesday, August 06, 2024

The Central Bank of Nigeria (CBN) conducted a Retail Dutch Auction to sell foreign exchange to end users, receiving a total of $1.18 billion in bids from 32 authorized dealer banks. Bids worth $876.26 million from 26 banks were qualified, while bids worth $313.69 million from 6 banks were disqualified for reasons including late submission and non-compliance with the required template. The CBN approved a cut-off rate of N1495/US$ to boost FX liquidity and promote price discovery.

Nigeria

Central Bank of Nigeria

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