CAPE TOWN, May 5 – Dollar demand in Nigeria is returning to normal after elections and should be satisfied by central bank sales of $250-$300 million at bi-weekly auctions, Central Bank Governor Lamido Sanusi said on Thursday.
“Now that you’ve had the elections and they’ve come and gone, I think people are going to go back to the normal trajectory,” Sanusi told Reuters on the sidelines of a World Economic Forum event in Cape Town.
“We will now get back to our normal supplies. I don’t think we need to keep draining reserves at the rate at which we were,” he said. “So $250-$300 million per auction, that should be enough.”
Source: Reuters Africa newsletter
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