Nigerian c.bank sells $196 mln to banks in fx market
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Nigerian c.bank sells $196 mln to banks in fx market UPDATED 14 Jul 2009 | 02:30  
Nigerian c.bank sells $196 mln to banks in fx market

LAGOS (Reuters) - Nigeria's central bank sold $196.27 million at 146.10 naira at its forex auction on Monday, short of the $326.67 million demanded, traders said on Tuesday.

The regulator sold $133.45 million to end-users at its last retail auction on Wednesday before reverting to the Wholesale Dutch Auction System (WDAS) on Monday.

Nigeria, sub-Saharan Africa's second biggest economy, on Monday lifted currency controls which it imposed in March in the wake of a sharp depreciation of the naira.

The reform measures announced last week allow retail banks to sell dollars purchased at central bank auctions on the interbank.

Dealers said the naira fell to 148.20 a dollar on Tuesday from 147.50 last week after the central bank failed to meet demand at the WDAS.

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