March 28, 2017 / 1:42 PM / a year ago

Nigeria central bank to sell dollars to exchange bureaus at 362 naira

LAGOS, March 28 (Reuters) - Nigeria’s central bank has set a new naira rate of 362 for the country’s retail exchange bureaus to sell dollars to consumers, the head of the bureau association told Reuters on Tuesday.

Nigeria has at least five exchange rates — the official one, the black market, a rate for Muslim pilgrims going to Saudi Arabia, a retail rate set by exchange bureaus and a rate for foreign travel, school and medical fees. (Reporting by Oludare Mayowa; Writing by Chijioke Ohuocha; editing by John Stonestreet)

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