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CBN to sell dollars outside own target band for third time

CBN resumes dollar sales to banks left out of Tuesday deals

The Central Bank of Nigeria (CBN) on Tuesday asked commercial lenders to submit dollar demand levels for the third straight session as it prepared to conduct another forex auction, dealers said.

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The CBN plans to sell dollars to the interbank market at N198 for the second consecutive session, outside its official band of 160-176 to the U.S. currency, dealers said.