February 23, 2017 / 1:17 PM / in 5 months

Nigeria to sell $230 mln in FX forwards, intervenes on spot market

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LAGOS, Feb 23 (Reuters) - Nigeria's central bank will auction $230 million in forward contracts on the official market on Thursday after selling $370 million this week to boost dollar liquidity and help narrow the gap between the official and black market rates, traders said

The bank also sold $1.5 million on the spot market to help keep interbank rates at 305.50 per dollar. On the black market the naira firmed to 490 after opening at 505, traders said.

Reporting by Chijioke Ohuocha and Oludare Mayowa; editing by John Stonestreet

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