ABUJA, March 6 Nigeria's central bank provided
on Monday $367 million to the interbank foreign exchange market
at forward rates, it said in a statement.
The Central Bank of Nigeria said it sold $144 million for
45-day forward contracts and $223 million for 60-day contracts -
part of a pattern of such sales in recent weeks.
The move "was in line with the bank's determination to ease
the foreign exchange pressure on various sectors through forward
sales under the new flexible foreign exchange regime", the
Nigeria's interbank forex market traded $540,000 in early
deals at 375 naira per dollar, near a record low exchange rate
hit last November, Thomson Reuters data showed on Monday.
In February the central bank effectively devalued the naira
for private individuals, offering to sell them the currency at
around half the premium charged at the black market, in a bid to
narrow the spread on the unofficial market.
(Reporting by Camillus Eboh; Writing by Paul Carsten; Editing
by Alison Williams)